Perhaps you thought your favorite blogger was sleeping peacefully on the west coast. Not so, my friends, not so.
It was an exciting evening, to be sure. Obama won – – and in precisely, exactly the way I said he would (repeatedly) – – and, in spite of a very strong Euro, ES and NQ did a swan-dive. I was looking forward to a very cool trading day on Wednesday.
And then, soon before I went to bed, the ES was down a mere 1 point. WTF?!?!? And then, right before hitting the light, the ES was up 4 points. Double WTF! I saw that, once again, the bears were getting ripped-off.
After a very restless few hours, I flicked on the iPad once more, this time around 4 in the morning, bracing my stomach for the worsening news. What would the ES be up now? Ten points? Twenty? More?
Errrr, nope. And we can all thank our dear, now-very-relevant friend, the Euro:
See that red circle and the trendline? I drew those last night, around the time the polls were closing. A beautiful new pattern became clear to me. However – and this is a big however – – when I saw the ES surging last night, I figured the pattern was kaput; I didn't even bother looking. But, au contraire, the pattern not only was intact, but it was unfolding magnificently. Evidently the whole of Europe declared – – and did so VERY suspiciously just after Obama had won his second term – – that their economies were sucking out loud, and would continue to do so. Hence, the EUR/USD swan-dive.
Need you ask how this aided the rise of the ES?
Simply stated, the Obama administration, along with all of its departments, now have lost the reason to lie. The numbers can be truthful, because the next four years are secure.
And, oh, won't it be an inconvenient truth. It's a good thing that marijuana is legalized in several states now. What our leaders desperately need is for our idiotic citizenry to be toking up, stumbling around, blissfully aware of what is going on all around them.
