We see another dip today and the market is un-easy. We also have had multiple bomb scares in the news for politicians and donors of the democratic party. It will be hard to know for certain the real motives of the bombings, but what is clear is the concern for the upcoming elections.
The Concern Over The Elections:
As we head into the elections, real capital investment is concerned that Democrats are so vindictive that they will seriously harm the economy just to spite Trump. Regardless your political opinion, it is clear people are becoming more aggressive and civil unrest is coming.
Here are the numbers to look for Daily:
- 23rd Was Directional Change — Thus the dip today.
- We can expect further downside, since we penetrated the yesterdays low
- 25052 — is daily bearish, close today below tends to lower numbers ahead
- We have another directional change on Friday
Here is what we are watching weekly:
- 24965 is our weekly bearish
- Close below this on Friday 10/26 signals likely to move lower into 11/05
Here is what we are watching monthly (end of October):
- 2400 – 23995 — is our main support
- We are still in consolidation
- Be non emotional with this market and wait for elections to be done
- Regardless of who wins, the US equities are still safest right now
The 23rd was directional change. We appeared to break the daily bearish today, so we are likely to go down further. But we have another directional change on Firday 10/26. This is short term stuff… just noise.
What you want to watch this week as support is: 24965. Close below this on friday it’s possible to test 2400 area. We just need to hold above 2400 area for October.
The effects are from political uncertainty from the big investors around the world. This is NOT about interest rates or trade tariffs. Historically an extreme left do not play well with others and are perceived to ruin all the growth from lower taxes from Trump, just to despise him. It is always Government vs the people. Trump is an outsider…
Many outsiders are looking to join office around the world. This is just people tired of the lies from government and politicians. The trend is what it is.
Let’s watch long term this Dow, 2400 is still our support. So be non-emotional with your investments. Stay put for now. Equities are the only investment in town right now. Ride the trend till 2020 or 2032 (depending on yearly closing).