Today's Highlights
Sustained moves
SPX500 bad streak
BoE Today!
Please note: All data, figures and graphs are valid as of November 3rd. All trading carries risk. Only risk capital you're prepared to lose.
Overview
The markets have found a solid singular direction of travel this week. It's really remarkable to see.
Since the scandalous Clinton email story broke on Friday afternoon, when it became clear that Donald Trump has more than a snowball's chance of winning this thing, the markets have been in complete unison. It's something we haven't seen for a while.
Here take a look!
Markets going up...
Markets going down...
Ok, the going down chart is dominated by oil, which has had other news affecting it and probably not related to Trump. Still, the other assets there are falling hard and stock markets around the globe are selling off.
The S&P 500
We can see that the SPX500 is on a huge losing streak that began before the Clinton exposure. The valid question then becomes, where's the next support now that 2100 is broken?
Some analysts have pointed to the 200 day moving average (blue line)...
As you can see, we're just 6 points away from it as of the time of this writing. If that line should be broken, no doubt it will be the focus of countless technical analysts on Bloomberg, Twitter, eToro and other financial news outlets and websites.
You know what else is a big deal?
The BoE Today
Even though the Bank of England is extremely unlikely to make any policy changes in today's meeting, the show will be watched by all of England and the rest of the world.
Earlier this week, Governor Carney announced that he will guide the UK through the Brexit despite what all the haters are saying. There was some controversy, as British politicians were accusing him of taking sides in politics when he warned the people of England of the financial consequences of a Brexit.
Now, that the drama is behind us, it's back to business. There's a lot of it to discuss and little time. So expect Carney to be on point today, to update us on what they've done so far and the possibilities of future policy.
Tomorrow
The US Non-Farm Payrolls announcement. Don't miss it!!!
This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation.
Past performance is not an indication of future results. All trading carries risk. Only risk capital you're prepared to lose.