With Election Day finally arriving on Tuesday (11/3) the market indicators are all over the map, and the only thing that seems certain is lots of market movement. Don your volatility hat and buckle up tight; next week looks like it’s going to be a wild ride.
Bottom Line:
I can’t remember the last time there was such extreme and stark disagreement among the indicators. Of course this is all related to Election Day next Tuesday (11/3).
With no clear consensus and such a wide range of readings, the only logical outlook for next week is Volatile; at least in the first half of the week. Following the election, it is likely that equities will make a big move higher or continue their recent decline. Therefore the secondary outlook is Breakout, because it is impossible to know which direction it may move.
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