Loading ...Pretzel’s market take .. with a chart
Gonna try to sneak this post in past the moderators during the day session …. LOL
http://www.pretzelcharts.com/2020/11/spx-update-nothing-to-see-here-just-sea.html
“if the bear count comes to pass, the conservative target is 3180-3200, then ~3150ish… but the most aggressive potential targets stretch as low as ~3000ish (and potentially beyond if we then form a still-larger impulse wave).”
My own take … $ rally post election … RISK OFF. But not for long. Test of 200dma for SPX, GDX both.
Then RISK ON into year end.
Same as I’ve been posting.
pedro…which market is this chart please
The link to the post, and the chart itself (upper left corner) are both labeled SPX.
ah yes…blind deaf and dumb here
The markets should rally higher if its a clean result – Wall St likes either candidate.
But it has to be a clean uncontested win.
If the result is contested … expect a fall in markets, as markets hate uncertainty.
“the elimination of disparities of…employment, income, wealth…” by the Federal Reserve is Marxism.
You can have only have it ONE way:
1. Equality of opportunity (Capitalism)
2. Equality of Equity (Marxism)
One wonders why Wall Street would be Fine with Marxism
I guess they figure they can make money under either candidate, via the debt expansion stimulus packages. We should see at least 3 of these over the next 6 months of up to $10 trillion in total. A lot of that will go back into the markets as speculation.
I can’t see how it won’t be contested. Even if a Trump landslide occurs (and I have no idea) the Dem’s already have game planned several different post election operations. We are talking radical violent operations which are fully funded and ready to be deployed. This is the militia arm of the Dems which will be pared with the political/legal arm of splitting the electoral college vote in early December. They have played all of the ground work for this. This is why they keep saying Trump won’t leave office. It’s an attempt to prepare the narrative. Listen to what Pelosi has been saying, she has been speaking in code that they have a plan to bring Biden into the inauguration irregardless what the vote count is.
If this is the likely scenario, we should expect a big sell off in the markets with high volatility.
Looking over my charts, this scenario (no immediate decision) has to be near the top.
Independent of the supporting background news, that is.
LT .. mo … the market should rally, but downside comes first.
Perhaps for more than a week. Won’t know until the decline starts (Wed?).
It may be a nosedive, or it may just take up time in a ragged manner.