As the elections close in and COVID spike the nasdaq will continue to fall. Money is moving from over priced tech into cyclical stocks. The likely Biden win might cause a short term drop down to the 200 day SMA. This coincidently is going to line up really nicely with the september lows. After a quick drop expect this rally continue into the biden presidency. Remember, when looking at the last 30 years democratic presidents have out paced their republican counter parts in terms of Index growth. As long as the transition of power doesnt get tied down in the courts creating uncertainty ride the bounce.
If Trump wins this isnt invalidated. There are still many lock down concerns and with the continual denial of the Virus there is still plenty of fear in the market for another lock down but investors like the trump market so until then the rally shall continue.
Either way this sets up for a very nice long.
If the 200day breaks go short.
If Trump wins this isnt invalidated. There are still many lock down concerns and with the continual denial of the Virus there is still plenty of fear in the market for another lock down but investors like the trump market so until then the rally shall continue.
Either way this sets up for a very nice long.
If the 200day breaks go short.