E-Mini SP500 Intraday Review

 

esz16-oct-18-2016

 

From the September 23rd peak the pattern that the Sp500 has made down into the October 13th low has the look of a zigzag decline.  If this is the case, then this market can still break above that $1275 price level and still go higher. Mind you it will be a choppy ride all the way,  so be prepared for some wild swings still to come. 

All this could be due to the uncertainty of the US  elections, in which we still have to wait until the 8th of November to find out. This election will also take place during one of the most volatile weeks as all sorts of employment reports will come out by the first Friday of every month.  It matters not who wins, as this market is going down regardless who gets in.

 From my personal point of view, I do not want to see Donald Trump, win the election, as it sure seems like he is a big cry baby, and Hillary Clinton has too many skeletons in her closet. 

When the winning president takes over on Inauguration Day, Friday, January, 20, 2017, is when all hell can break loose as all the new minions will kick out most of the old guard.  With a lot of back stabbing, and scores to settle, which will create policy changes that can cause huge problems going forward.

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