Traders are using the election as a catalyst to push higher prices on the S&P 500 and Nasdaq futures.
That said, we are seeing some underperformance on Nasdaq futures and outperformance on Dow Industrials futures.
The bounce action across the stock market indexes is continuing as higher lows are made.
Anticipate some profit taking on the open. Targets for long action have been well defined as prior levels of resistance – see today’s video.
More minor whipsaw action ahead but with most thinking that we are off to a post election rally.
My suspicion has been that as we rally into the regions of low volume, we will have a wider area of choppy motion instead of just blasting higher and holding there.
Stock Market Futures Video Update – November 7, 2018
The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.