Election Uncertainty: Trading in a Tight Range! | SPX Market Analysis 29th Oct 2024

Ahoy there Trader! ‍‍☠️

It’s Phil…

As we sail closer to the stormy seas of the US presidential election, uncertainty looms large! With SPX prices in a tight range, let’s navigate these waters carefully and prepare for the trading opportunities ahead.

 


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As we inch closer to the decisive US presidential election, the air is thick with uncertainty. This pre-election period often leads to a predictable pattern: anticipation before the event and clarity afterwards.

It’s like waiting for the final scene in an 80s thriller—what will happen next?

  • SPX prices are currently contained in a range, suggesting this could persist until the election.
  • Watch for red flag news starting today at 10 AM EST that might shake things up.
  • I’m currently bearish on my swings, looking to capitalize on range trading opportunities.

Post-election, I anticipate flipping to a bullish stance once we have confirmation of market direction.


Fun Fact

Did you know that the stock market tends to perform better in the year following a presidential election? Historically, the S&P 500 has averaged a gain of about 7.5% in the year after elections!


 

Happy trading,

Phil

Less Brain More Gain

…and may your trades be smoother than a cashmere codpiece

 


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