$50 by Nov 5
Updated
https://www.tradingview.com/x/wxR5s1Ly/
Appears we've had an accelerated move to the low $40's already. Was expecting this by x-mas.
Now expecting a move to $50 by election day. There is some uncertainty who will win, but a push to the 88.6% fib is highly probable.
Depending on who wins, we will see a push to between $54-62 range, or a temporary retrace.
Feds have cleared the way for more rate cuts. Mostly likely another .25 before election day, just so they look good, but not "influencing" the market/election in any way, of course.
Appears we've had an accelerated move to the low $40's already. Was expecting this by x-mas.
Now expecting a move to $50 by election day. There is some uncertainty who will win, but a push to the 88.6% fib is highly probable.
Depending on who wins, we will see a push to between $54-62 range, or a temporary retrace.
Feds have cleared the way for more rate cuts. Mostly likely another .25 before election day, just so they look good, but not "influencing" the market/election in any way, of course.
Note
Appears we hit around $53 the day after the presidential election. The future anticipation of a positive economy under a Trump administration is shown in this move.
Expectation is that price will linger here for a short while, possibly a few days, and return to retest the $43-45 zone at this point.
Trade active
Seems like the swing movement in TNA has accelerated.
We are coming back down to the $43-45 zone, for another load up the truck moment.
Expectations are that the massive amount of money that is still sidelined is going to be deployed through Q4-2024 and Q1-2025 especially with more interest rate cuts looming. Russell 2000 is way undervalued from a PE perspective relative to the SP500 stocks, so something needs to give for it to catch up from a value perspective.
Trump and Co. are planning on massive tax and government reforms that will also benefit the small businesses in the US. Seems like most big players are being risk-averse and waiting for the news for the changes after the inauguration, but the writing is on the wall. The overwhelming majority of the US population has spoken, and are mandating that things simplified, and less burdened, which is what is on tap to be delivered by this administration.
Political posturing by the left to impede this progress will most likely be steamrolled and their positions mocked for presenting the alternatives, whether they be good or bad.
So the prefect storm for a strong move upwards is set. The path to the first stop at $67-69 was cleared by this recent move to $56. Following a brief pause in the high $60's the next stop would be around $86-$90 which is a nice 2x move.
Trade closed: target reached
What a great back-up-the truck moment the past couple of days to load up on TNA. We should have a nice rally going forward now.Note
Re-bought.
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