S&P500 Performance In US Election. What to Expect This Week?
Only two days left until the elections and Wall Street is bracing itself for the next president of the United States - Trump or Biden.
US Elections have been and are always expected to be an extremely volatile event worldwide. Elections, similar to other political or banking sector events, are notably treated by market participants with anticipation and speculation.
Last week, the S&P 500 has taken its deepest dive, dropping 5.5%, while the US GDP increased by a surprising 31%. Below is my previous analysis of S&P500 and how Elliot Wave prepares us for the crazy decline.
What to expect during the week?
The chart above shows that SPX decline is still making an incomplete five-wave impulse sequence. The price is expected to keep heading lower and selling the rally after a short-term swing higher is ideal. The price has the potential to retest the lower boundary of the channel to complete the bearish sequence.
What's your view on S&P500? Let me know in the comment.
Safe Trading!
Veejahbee.
US Elections have been and are always expected to be an extremely volatile event worldwide. Elections, similar to other political or banking sector events, are notably treated by market participants with anticipation and speculation.
Last week, the S&P 500 has taken its deepest dive, dropping 5.5%, while the US GDP increased by a surprising 31%. Below is my previous analysis of S&P500 and how Elliot Wave prepares us for the crazy decline.
What to expect during the week?
The chart above shows that SPX decline is still making an incomplete five-wave impulse sequence. The price is expected to keep heading lower and selling the rally after a short-term swing higher is ideal. The price has the potential to retest the lower boundary of the channel to complete the bearish sequence.
What's your view on S&P500? Let me know in the comment.
Safe Trading!
Veejahbee.
