The markets are showing great reaction to the elections but the expectations of the elections may have already been built into this market. Currently, the sideways mode/consolidation stage of this market appears to be waiting for the T-line to catch up. The prognosis remains the same, stay long in the strong charts and patterns. Stay short in strong bearish charts. Currently there is no change of investor sentiment, the current uptrend remains in progress. Crude oil prices are making a strong move to the upside Wednesday but watch to see if this is not merely a technical bounce.
November 5 Daily Market Comments
The markets are showing great reaction to the elections but the expectations of the elections may have already been built into this market. Currently, the sideways mode/consolidation stage of this market appears to be waiting for the T-line to catch up. The prognosis remains the same, stay long in the strong charts and patterns. Stay short in strong bearish charts. Currently there is no change of investor sentiment, the current uptrend remains in progress. Crude oil prices are making a strong move to the upside Wednesday but watch to see if this is not merely a technical bounce.