Last week we blogged one of our thoughts as to where the S&P may go up to election day. Here is the alternative more bearish route which is likely to transpire if it can’t get over the “gold line” Each of our scenarios have Low Risk “Index Setup” points which we provide to our clients.
The lead up to the USA election often sees a small retracement up to election day before “taking off” thoughout Thanksgiving and up to Christmas. We think it’ll be a similar pattern this year – maybe a little “chopier”! S&P very possibly in an ABC correction and targeting the 3400s may get a small bounce first. #SPX500 #SPX #FTSE