THEY are trippin! Hearing Randy’s analysis is the best part, especially with whats going on in the world.
“The fed went completely nuclear in response to Covid!”
“THE banks are gaming the stock market!”
EPIC stuff.

thanks Randy! … one question about divergent lows and “almost divergent lows” and XOM is a good example … since the March lows in something like this were historical “momentum fueled overshoots” and since things by nature go down harder and faster than they go up … maybe it is not always necessary to look for the true DL? … I have been looking for a new lower low for XOM but maybe the october low turns out to be close enough considering the nature of the March low? …. also, one other thought I was having: XOM on the long long term looks like a head shoulders from 2005-2020 and if I am reading this right there should be a price target further down in the 20s but of course that could be years away yet instead of imminent …

Agreed! The Socialist Pollsters had everyone selling a blue wave practicing the very voter suppression they blame the Republicans of …. since Republicans in the Senate will not allow the demise of the Trump tax cuts there will not be a massive stock sell off before the end of the year because the Biden proposed Capital Gains tax hikes. So institutions are reversing their positions back into equities.

Big oil looks poised for a tradable rally regardless of how the election goes, IMO, although still a trade “setup” pending a breakout of those falling wedges on XLE, XOP, & XES (with XOM being a top component of the latter two). I plan to look for the most bullish individual energy stocks soon but I’ve already looked at XOM & the chart is constructive as well (it basically mirrors XLE as it usually does being a top-heavy component).

Also this election will be contested – you would expect the market will react poorly with that outcome. VIX is going down hard. Maybe this is just unwinding of that position which is causing upturn in market.

This post was in no way a “call” for a Trump win. Merely highlighting some potential trading opps, should that occur, especially based on the fact that the odds for a Trump win shot up substantially once the votes started to come in. Good point about the market reacting to the Republicans likely holding the Senate.

Technicals most certainly may get trumped (no pun intended) but the news so best to keep things light until after the dust has settled and take any breakouts/breakdowns that are triggered by changes in the polls with a grain of salt. I will say that the breakout on QQQ & /NQ is still well intact even as the latest Vegas odds are nearly 83% for a Biden win.

Chart

I agree. Markets have been screaming Biden victory (dropping) yet the spin by Cramer and all the other CNBC “experts” a Biden government run by Sanders and AOC would somehow by fantastic for America has been an embarrassment and quite frankly psychotic! If the Socialists manage to steal this election from the Capitalists by packing the ballot boxes with bogus junk mail ballots America becomes Hong Kong …. start learning Chinese!