Jump Risk
During this 41-day government shutdown, Trump lost ground in Tuesday’s election, had his favorability polls plummet, and then when SNAP benefits ended same day of his Great Gatsby party in Mar-a-lago, an uptick in news of food lines grew. Then Saturday, military uniforms flanked food banks and Sunday the shut down is promised to end and with no real concessions - just promises for a mid-December vote on the Affordable Care Act before government funding runs out in January.
Punchbowl News:
Well, Friday - after meeting the SPX target I posted earlier in the week of $6650 - I did say I expected a bounce back into 6807 SPX. And I did say VIX rejection 22.18 was the tell. And all after a perfectly-timed QQQs 6% pullback on cue…
But this was a heckuva gap up and bounce.
Will it hold through:
GovtShutdownVote
CPI
JoblessClaims
Assuming we even get the govt up and running in time to compile and release Jobless claims…
Trade Updates
Recently rec’d DQ +7%, XPEV +16%, RIVN +8% had great starts to the week!