Reaction to US Election

Published by Lee Sandford in Stocks · Wednesday 06 Nov 2024 · 1:15

The markets are reacting sharply to Donald Trump’s election, and here’s a quick look at key moves and signals from the Pro Trading System:

U.S. Indices: S&P 500 & Dow Jones

S&P 500: Reached new highs following Tuesday's Pro Trading buy signal. Watch for a potential close near 6,037, though a three-wave divergence may affect further gains.
Dow Jones: Recently broke above highs. With momentum low, today’s close is key to confirming the upward trend.

European Indices: DAX & FTSE 100

DAX: Today's buy signal shows strength, but a red close could indicate a head-and-shoulders formation, hinting at a trend change.
FTSE 100: Buyers stepped in this morning, showing an 80-point move upward.

Currency Moves

GBP/USD: Sideways trend continues; watch for a breakout above 1.3050 for a buy opportunity.
EUR/USD: Downtrend remains, with a red close potentially signaling further selling.

Commodities & Bitcoin

Gold: Potential pullback; if confirmed by a red signal, it may indicate more selling.
Oil: A buy signal may emerge if today closes green.
Bitcoin: Breaking new highs toward 84,000, but keep an eye on divergences.

Stay alert for updated signals as markets react to these developments. Trade smart, manage risk, and we’ll continue to keep you informed.

Best,
Lee Sandford