Looks like we have a confirmed uptrend signal here, which is what I expected to happen since the market created a big support level indicating the smart money absorbed the last crash. It's interesting that for most people, it borders on lunacy to be long risk ahead of the POTUS elections, but it seems to be the right thing to do. I suspect we will get a Trump...
If we're before a yet unconfirmed bearish phase, this is a likely scenario. You can trade within the bearish channel. A minimal market run-up usually always follow the days prior a new POTUS election. I think we can expect markets continue to fall whether Trump or Biden get elected. It will only stop falling until long-term Bitcoin channel bottoms are...
GBPUSD formed a double top and bearish engulfing on 4h hour chart, looks like investors are going to turn risk off after Trump comments about China.
The point? Markets tend to chop around before Presidential Elections. George Bush Senior is probably the best performing Presidential stock market to not get re-elected. Clinton likely had the best performing stock market thanks to the internet, unbridled leverage in real estate due to tax-free capital gains of $500,000 every 2 years for couples in their...
How are people still bearish on SPY? I'm glad I didn't close my equity longs, although I did have a stop out at break even on my SPX position overnight. The way SPX bottomed against the BIG$ support level obtained from VIX showed us there was going to be a rally once again. The reaction to Trump's increasing odds, and finally victory in the elections was...