As we wrap up one week and gear up for the next, we’re poised for explosive trading potential. With Tuesday’s election around the corner, expect wild price swings. Political uncertainty often leads to a corrective dip, followed by a bullish rally as clarity emerges. I’m starting the week flat but eager to find opportunities based on this premise.

Market Movement: A bearish breakout aligns with expectations, but caution is advised ahead of Friday’s Non-Farm Payroll (NFP) figures and Tuesday’s U.S. Presidential election results.

An unexpected bearish move is unfolding in pre-market futures, currently down about 50 points. This gap down may push prices outside the established range. With bearish income swings nearing profit targets at the open, the key question remains: will this breakout hold, or will the market retreat back into the range? Stay tuned as we assess this potential continuation setup!

Despite a slight rise in stocks and indexes, SPX remains trapped in a trading range as mega-cap earnings loom. Nasdaq is attempting a new all-time high, but the focus is on range trading until a breakout occurs.

With the US presidential election just a week away, markets are bracing for uncertainty. SPX prices are contained in a range as traders await potential shifts triggered by economic news. Currently bearish on swings, I plan to flip bullish post-election based on market confirmation.

After last week’s breakout and subsequent retreat towards range boundaries, SPX prices lack significant follow-through. With key red-flag news and Friday’s NFP figures looming, traders anticipate the start of the next trending move. Patience remains crucial in navigating these market waters.