Electoral college today and the smart money is it’s going to end with a whimper. The markets show no indication of any upheaval of the U.S. vote so I suspect that will be the way the day ends up.
Something to keep a watch on as if there are any defections of any number the market will not like that one bit.
An interesting develop on the geopolitical front with China taking one of our unmanned subs from the south china seas. And now offers to return it. And this morning it’s almost like it never happened.
I am long looking to get longer today if any setups trigger. I had a nice trade this morning when we had a divergence between $ADD and NQ. It was a nice pop to the upside that I caught maybe 1/3 of it. Hard to get 100% of the moves!
We are now officially in a strong period with a tail wind at the back of the market. How that translates after such a big move preceding this two weeks is anyone’s guess. But I doubt we will get any weakness through year end. It’s always interesting to see how these historical themes play out in real time.
I am going to cut this short this morning as I woke up very late and have a bit of catching up to do.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ
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