MrRenev, you think you have found and backtested the Holy Grail? Well done, just keep fading those big moves...
Trump lambasted Hillary as the party of well street and he was the party of the working man. That certainly has not been true.
Systematic trendfollowing still works. It has become harder, so you need to be smarter. Traders have to be smarter nowadays.
The potential of trading against the trend is mathematically always smaller than trading with the trend. The trend is the summation of all waves in direction of the trend. As the final move of a trend is in the direction of the trend, the trend's summation is always bigger than the summation against the trend. If not the trend would not be the trend.
I think it is about Trump threatening not to leave the White House if he loses the elections. I read that the entire American financial sector is very nervous about that. Trump also tries to mobilize his followers to defend him. As a lot of these followers are weaponed it might get ugly.
Jamie Dimon is a bureaucrat of the banking industry. He was never into Wall Street. He became CEO of JPMorgan Chase only by chance after Bank One, CEO of which he was at the time, was purchased by JPMorgan Chase. As for who will be Biden's Treasury Secretary pick, even Biden does not know that, it might well be Elizabeth Warren.
And yet he has been CEO of the JPMorgan Investment Bank since 2005. Granted, he didn’t come up through the IB earlier in his career - but to say he was “never into Wall Street” rings a bit hollow. He certainly had an IB leadership role in the mortgage crisis and the “London Whale” incident. He is always mentioned by the press and other banks as a “Wall Street” banker.
If somebody from a banking industry says: "I don't mind paying higher taxes", that means to me that the guy made a lot of money w/o taking a lot of personal risk, i.e. being a bureaucrat. True Wall Street people prefer to run charities and foundations, not to pay higher taxes.