The way the day has been playing out so far, it looks like the usual type of day before the wild October ride. Understanding the stock market can drive the veteran trader over the edge with the way October has been going. With the average day trading that we’re seeing today, It’s a welcomed sight.
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I don’t expect the rest of this week to stay like this. Even though we’ve been holding on to the October 10th low so far. I do believe that we will drop below those lows within the next week or so. Most likely it will happen before the election. As for the outlook on the markets after the election, I’m looking toward a pretty good rally. Why do I say that? well historically with the end of the election and looking toward a new administration the markets have gone up from the levels that they were at before the election.
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With two hours left in the trading day, I hope that the markets can hold on to it’s small gains. Typically in the last few weeks though in the last hour of trading the markets have taken some big hits. With the way the less wild ride has been for the day, it should hold, but we’ll see.
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