With the election coming up, it is hard to imagine any other scenario besides a blowout. Regardless of your own political beliefs, Democrats are outnumbering Republicans in early voting which is objectively a huge advantage. Democrats seem to be motivated on removing Trump, and it is showing with the surge in voter registrations and early votes cast.
With that...
If you read the news today, the House of Representatives is opening an impeachment inquiry on President Trump. If I am correct, a lot of people are going to be panic selling and the market is going to plummet these next few days.
I can't imagine many positive news cycles will be coming out with the trade war on China, tensions with Iran, and now this? Short...
Looks like we are seeing a little bit of a reversal on NYSE:MCD . Elliot impulse waves seem to have run through their cycle and are now looking for corrective waves.
Let me know what you think!
By looking at the daily or the 4-hour charts, you can see the S&P 500 is looking to be a potential double top. We are approaching record highs and I would not be surprised if we see a pullback before making new highs. RSI is looking to be potentially overbought at this level also. I will also not be surprised if we have a bad news cycle within the next week in...
On both the 4 hour and daily chart, the RSI is showing that Intel is currently Overbought. The MACD also seems to be indicating a sell position, along with what looks to be a potential double top position.
