Please direct your attention to all the trendlines anchored on August 5th and September 6th of this year. This constitutes a crucial medium-term support level which, if breached, should get things cookin’ for the bears (for a change). Here is the /ES:
Below are the SPY and QQQ (both of them with more recent data) with the exact same line. The shooting star for the QQQ adds more sauce for the goose.
The narrative that everyone, and I mean everyone, anticipates, is super straightforward:
(a) Trump wins (b) people go absolutely ape buying up equities (c) the market soars to lifetime highs every day for the foreseeable future.
Maybe. Or maybe not. Perhaps the market goes down, and it does so for surprising reasons. Maybe Harris wins (I doubt it). Or, more likely, maybe Trump wins and, to the absolute befuddlement of everyone, the market gets absolutely creamed in the aftermath. Or perhaps there’s a ferocious dispute over the outcome, and the U.S. is on the brink of civil war for a few weeks.
It’s only a week away, folks, that all of this gets rolling. I am absolutely transfixed by what’s next.
