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Market Update 2016

Monday, October 31, 2016 16:10
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(Before It's News)

Well here we come down the home stretch into the election. The markets have a great chance to pullback these next 2 weeks and tomorrow we might start to see traders unwind bigger positions ahead of the crowd.

Just mentioning the increasing chances of a pullback here raises a red flag and as i do my daily research I continue to see many other market watchers make similar predictions. So its really up in the air and I expect within the next 2 weeks to trade lower then where we are today.

I came across a nice write uo from our friend Jeff Hirsh at the Trading Almanac @Almanactrader Here is the link

http://jeffhirsch.tumblr.com/post/15…m-the-big-easy

Here’s his outlook in a nutshell

“The market is likely to continue to waffle until after the election as the country and the world is a little on edge with this year’s unique circumstances. But after that we expect an upside move in November and through the Best Six Months and the first 100 days of the new President with some weakness in the first half of December and a January/February profit-taking break, save some longshot election result or a delay in the decision that derails the stock market. “

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