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As mentioned yesterday, Markets do not like uncertainty, but with elections out of the way, we could get a Post Election Pop. As you can see, we got that Pop. Today is an FOMC Meeting, and there were a few other areas of interest that continued to set up for higher price too. Let's take a look...
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SPX - On day 7, we can expect markets to hold up above the swing low from here, but I'm still wondering if they can recover fully, or will things remain a bit choppy again going forward?
This is what I am looking at...
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It has been difficult trading or investing for the Buy & Hold group. October was a drop into our ICL , and it was a deep one. Since then, we have seen a lot of choppiness heading into the U.S. Elections. Markets do hate uncertainty. Now that that will be behind us, we still have an FOMC Mtg scheduled for Wednesday & Thursday of this week, so unless we get a strong reaction higher when the results of the elections are released, maybe we should just expect a bit more choppiness . Let's review our market sectors...
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SPX - After an A-B-C type sell off , this looks like an ICL is in place and we are on day 6. Resistance is right above, so the elections results could push price through. Markets do not do well in uncertain times, so the post election results could help the markets.
Read More I'll tell you what's up...
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