ridethepig | SPX into elections and beyond
Updated
📍 SPX - into the elections and beyond
This waterfall is a demonstration of how and where a decline in confidence on the risk front should be punished.
The lust to expand equities higher is rather less here than one might suspect at first look. With the unsurprising hurdle of a contested election in US, buyers are threatened by an obstruction in democracy and Schwab transferring his influence across the Atlantic.
The only valid plan here is to look for sells and be prepared for a waterfall into November. Sharp speculators are not buying at these levels and looking to set in motion a new economic cycle (yet), first we must finish the correction.
This waterfall is a demonstration of how and where a decline in confidence on the risk front should be punished.
The lust to expand equities higher is rather less here than one might suspect at first look. With the unsurprising hurdle of a contested election in US, buyers are threatened by an obstruction in democracy and Schwab transferring his influence across the Atlantic.
The only valid plan here is to look for sells and be prepared for a waterfall into November. Sharp speculators are not buying at these levels and looking to set in motion a new economic cycle (yet), first we must finish the correction.
Comment
Freefalling..
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