According to Monday’s weekly newsletter, the S&P 500 could correct to 4150 if it breached 4200, with the next support level at 4125. However, the market is poised for a recovery soon, and the S&P 500 could bounce back to 4300 in November 2023. Traders can long S&P500 with S/L 4120. Given the uncertainty over the next few trading sessions, traders could consider hedging the long position by buying put options (expiring next weekend) on indices.
Booked profit in the long position of Gold Dec @ 2005 and again bought at 1975 – booked 50% of this position at 1998 and still holding 50% position. Also, made long position in Silver @ 22.80 with S/L 22.49.
Made long position in crude oil at 83 with closing basis S/L 82.