Let me start off by saying I don't think a crash (-10%+) will occur before election day. Still as experienced in previous election cycles, usually two to one week before election day markets tend to sell-off as there is high uncertainty associated with presidential elections. I am basing this possible short play totally on technical and news factors; namely elections. The MACD on the daily is about to crossover and the stoch managed to reverse before 75%. This combined with the fact that the price broke the diagonal support (fib) and that the time cycles point to a new DCL on NOV 8th lead me to believe this week will offer an opportunity for shorts, mainly volatily calls to make you some money.
Trade active
Up 15% on my VIX positions, I am taking some profits.Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.