How Are YOU Enduring the Market's Gyrations? A Bottle of Bourbon? How About an Ounce of Preparation?
See what helped a small minority of investors to stay ahead of the market's turn from the October sell-off to November rally
by Nico Isaac
Updated: November 05, 2020
How are you feeling? According to a November 4 Bloomberg article titled "'Scrap That': Traders Lose the Plot in Night of 1,000 Twists," some readers are nursing hangovers.
The article captures the last 48 hours in the lives of money managers, traders, and investors across the globe who spent the evening of November 3 trying to cope with the uncertainty surrounding the U.S. presidential election.
Among those cited in the article were Wall Street-based strategists engaged in frantic, back-and-forth text exchanges, "staring at futures," "watching financial TV," and numbing their anxiety with "bottles of bourbon" and a steady tap of coffee.
The source of their stress isn't so much who wins, but how long and hard this battle for the White House will go on. And the question of what the whipsawing electoral map will do to stock prices and their clients' portfolios along the way.
Here's a sober thought: The future of stock prices doesn't depend on the election. It depends on the psychology of investors, which cuts its own, independent path directly on the market's price chart in the form of Elliott wave patterns. And we can show them to you.
On November 2, Elliott wave patterns predicted an important market turn -- from hard down to hard up.
At 9:59 AM that day, our U.S. Stocks Intraday Pro Service s identified for subscribers a completed corrective pattern on the DJIA's chart shown below, and advised bulls to keep their eye on the 26,869 price level. If the market went above it, it would be a bullish sign, we said:
"The Dow is the only index that has taken out the late Sept low. This is the action that typically occurs to complete a corrective flat... For now the count shown is expecting overall higher."
From there, prices took off to the upside -- as pictured below (data shown through November 4 -- the market added even more rally on November 5):
Make no mistake: The election gyrations will continue to pull the political front lines every which way to Sunday -- and, frankly, we all may need a drink or two before it's all said and done.
But there is no wait required to know which way U.S. stocks will likely be headed in the hours, days and weeks ahead. Our U.S. Stocks Intraday Pro Service is preparing subscribers as we speak.
So, subscribe to it now -- and get instant access to action-oriented charts, analysis, and special videos that identify high-confidence setups in the Dow, S&P, Nasdaq, and more.
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EWI's 25+ analysts regularly review 100+ market indicators to keep subscribers ahead of big price turns. Right now, one of these indicators -- well-known to most experienced market players -- is flashing a warning signal. Get the details now.
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