Volatility is likely to return with a vengeance on Tuesday. The markets rallied over 2% today because the FBI decided there was a lot of smoke but no fire in the new batch of Clinton emails. There was a monster short squeeze and everything rallied right to short-term resistance. Tonight the S&P futures are down -6.50 and falling.
The FBI news may have spiked the market but it did not guarantee a Clinton victory. We could very easily have a Brexit type of reaction if Trump were to pull a late victory from the jaws of defeat. I think it would be unwise for us to make any new entries at these levels in a market that could go 300 points or more in either direction on Wednesday. We just need to be patient and a market direction will emerge. The object of the game is to trade when it makes sense to trade and not trade just because the market is open.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays