Holding SQQQ for now, sold a couple longs held as a hedge over the weekend. Get Ken Calhoun in here and set the toboggan slide in motion already!
V man would only in a rare situation, but that ain’t happening anytime soon. Market can’t even sniff red. This thing isn’t going down. Actually a drop to fill some gaps would allow some sharper, more steeper V’s. Thing is in such small range and they Absolutely refuse to let it touch any red so this is what we get. They will fight ever micro dip.
The market is emerging from its seasonally weakest period of the year with nary a scratch, and it is entering its strongest. I'd not be surprised to see it play some games especially on election eve which could last the whole week of the election until the winner is determined. My hypothesis is still that first introduced by @vanzandt that unless something develops that really seems to give Trump the upper hand that all dips are buying opportunities for the Harris post-election rally. If on the other hand Harris Falters and I see Trump gathering real strength I'd be very willing to switch to the sell the rips side of the game. For now when in doubt buy the dip.
100 % agree. It can potentially get really messy. Can we handle another "Stop the steal?" 5 trading days left until the election and the S&P is up 23.94 % for the year at current all time highs barely a percent from the highs. The average high print on an up year is around 20 %, so I feel we're pushing it here on the long side. I would feel more comfortable buying a solid dip from these levels. Also, that statistic was recently wrong in 2020. Unless Trump actually won in 2020 (as many Americans still seem to believe).
The predictive value is the period starting July 31 of the election year. So the S&P got it right in 2020. Who Will Win The Presidential Election? Ask The S&P 500 As of today I believe the S&P is up a around 4% since the July close.
Got it. Thanks for clarifying that detail. You need to ask your broker about that. LOL. Nicely done. I keep shorting rips for now. I think this week will see range expansion lower. At the minimum fill Friday's gap. I may easily be wrong.