ELECTION DROP
I changed my price target on SPY to ~$367. Yesterdays price action was way too strong into the close for this market to drop yet. Nobody cared about Powells speech. Nobody cares about EVERY stock in the market being overvalued by a minimum of 2x. We are continuing the ride up the wall of worry. IWM still has not completed its 100% retrace which WILL happen. I am noticing stocks all over the board developing extremely bearish patterns and parabolic moves to the moon. Post election, if trump wins, I anticipate the market to continue this ridiculous pattern. Biden wins, i expect a minimum of a 20% drop in the market.
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