Sideways Trends and the Election
Oct 28, 2024
THE WEEK
This was the usual trading volume and not a whole of no price/action movement on the Market this week.
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There were no major economic announcements this week either. NASDAQ stocks fared a little better than S&P 500 stocks. One of the elements I track daily is the percentage of stocks whose price advances and the percentage of those that declined. I assign a color to each day so that I can see at a glance how the Market is faring. In each row the first figure are stocks that advanced; the second are stocks that declined. The color says it all. Pinks are declining days; greens are advancing days. |
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LOOKING AHEAD
With the new month, we will see the start of all the economic announcements. The PCI for October is revealed on Thursday 11/01/24 before the Market Opens. On Friday the October Unemployment rate is announced before the Market opens Late in the morning the first of the PMI figures for October are released These announcements cause some Market volatility as traders react to that news.
We also have the elections skewing the Market. I know you have heard it many times, but your vote is important. I think this is one of the most crucial votes I have seen in my lifetime. Without the right leaders, I feel the future of our country might veer dramatically and not in a good way. I believe the Market is also in a “wait and see” mode. Will the election results have an impact on the Market? If history is an indication – definitely YES.
HOW AM I DOING?
The Market Price Action we saw last week is one of the hardest for me to trade. It was sideways overall with two bigger daily downturns. No excuses but none of my trades got any traction and I felt a little schizophrenic with my trades. I treaded water ending the week with just a very miniscule gain.
Overall, for this final quarter of the year, I am doing just OK. The S&P is up 8.7% and NASDAQ if up 1.9%. My percentage gain since 10/1/2024 is 13.5%. I am not happy about it but understand the factors that led to the low gain. I am really looking forward to this week with a large number of Earnings Announcements and the last of the election garbage.
Thursday’s Webinar Topics
I have been asked by Investing Buddy subscribers to cover several topics
- The Santa Claus Affect
- The expected Market after the Elections
- Portfolio Margins – this is a big topic and will continue the discussion in subsequent weeks including a review of the required test to get Portfolio Margin
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