Election Roller Coaster
We had a really crazy overnight trading session and it continued during the day, with indexes ripping higher. We still have no decision in the election process, so why the rally and what comes next?
We had a really crazy overnight trading session and it continued during the day, with indexes ripping higher. We still have no decision in the election process, so why the rally and what comes next?
We’re in limbo. The markets are waiting for a final tally that may not come for days. In the meanwhile, where can we look for opportunity?
The last two days have brought a bullish Directional Bias to the market which changes our daytrading entry preference. I also discuss where to anchor the VWAPs as we shift into November.
I don’t know if SPY will be up or down on election results, but I know I’d take this trade every time it sets up.
Volatility has come in from its recent pop, but there’s still enough premium in the indexes to set up trades. Let’s review my favorites, along with a list of swing setups I’d like to add, once the dust settles.
Using my HPMR volatility indicator and an overbought/oversold oscillator. Like I explained in yesterday’s video, we faded the moves this morning in the RTY and YM using options to daytrade the ETFs.
Whether intraday daytrades fades or oversold fades of the indices and sectors on the daily charts, this market is about mastering the chop that we are in now…