Tuesday, October 29, 2024

A week to go

It’s going to be a wild ride…
 
   
     
   
 
OCTOBER 29, 2024
   

Hey y’all,

We’re officially one week away from the election.

One week away (in theory) from this all being over.

Since Monday the 14th, just over two weeks ago, we’ve been stuck more-or-less in a range, the markets moving sideways.
 
 

And I expect that to continue for another week.

After that, though, as we’ve discussed, it will be off to the races in one direction or the other.

If I had to guess, it’ll be to the downside… 

That’s just a guess, but an informed one, and here’s why:

Few analysts really believe we’ll know the results of the election on election night.
 
 

It could be a matter of days, even a week or more till we know the official results, to say nothing of either or both parties potentially challenging those results.

The best parallel to that kind of election in recent memory is from 2000. Some of you will remember that in the year 2000, there was a controversy about who won between Bush and Gore that came down to a handful of uncertain votes in Florida.

Back then, the markets had been climbing but had hit resistance, just like we have right now…

And then, the day after election day (circled in white) we saw the markets begin to sink:
 
 

Thereafter, we saw a White House Wave to the downside, taking the markets lower for the following two weeks.

I think that scenario could play out again next week, if the results are uncertain.

Of course, if we see a convincing win for either party, that changes the calculus entirely. 

So we’ll just have to wait and see.

One more week to get through folks — I know we’re all ready for a break from the noise.

To your prosperity,
Stephen Ground
Editor-in-Chief, ProsperityPub

P.S.: These kinds of sideways markets aren’t a problem for Nate’s incredible Overnight Options strategy — you should check it out here!
 
   
 
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