#Gold #Japan It was around 4.30am when the penny dropped, a realisation the US election was being viewed for ‘entertainment’ value. There was no great underlying geopolitical motive, instead the US results (washed down with plenty of rum) proved as enjoyable as watching Eurovision results while ducking the horror of actually watching the acts perform. Perhaps this explains the fascination within the UK & Europe for the still unravelling American mess.
The US has turned “normal” on its head. There’s a saying about ‘counting chickens before the eggs are hatched’ and it’s something the markets are dangerously close forcing us to propose, especially with the Nasdaq. Strangely, an issue made itself clear during the night as we were watching market futures in conjunction with TV election coverage. When it looks like Mr Trump would make a gain, futures for Wall St would blip upward. Conversely, when Mr Bidet looked like making a gain, Wall St futures would dip. This state of affairs continued until 8am, when everything turned on its head and the night-time decline started to reverse. This time, it only took a gain for the Democrat contender to provoke Wall St gains!
Analysis of this behaviour quickly revealed a cause. No-one has a clue what’s actually going on…
This brings us to the Nasdaq. On 4th November, the index has performed with impressive strength and now calculates with the potential of some amazing numbers. Apparently growth next bettering 11,850 points should attempt an initial 12,066 points. If exceeded, our “longer term” secondary computes with a target of 12,433 points, virtually exactly matching the all-time high from the start of September. Importantly, there’s something significant about such ambition. In the event the Nasdaq somehow manages to close a session above 12,433 points, we’ve a strong logic demanding a cycle of further gains commence, giving a present of an additional 1,001 points.
For trouble to make itself know, the Nasdaq needs reverse below 11,300 points. Such calamity risks provoking reversal to an initial 9,670 points with secondary, if broken, at 8,560 points. Visually this appears unlikely but do remember the big rule.
Times are not normal.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:52:06PM | BRENT | 41.3 | ‘cess | ||||||||
| 9:56:25PM | GOLD | 1904.16 | 1887 | 1881.5 | 1871 | 1900 | 1906 | 1913 | 1931 | 1892 | Shambles |
| 10:36:09PM | FTSE | 5861.2 | Shambles | ||||||||
| 10:38:41PM | FRANCE | 4888.7 | Success | ||||||||
| 10:42:07PM | GERMANY | 12292 | Success | ||||||||
| 10:46:30PM | US500 | 3450 | Success | ||||||||
| 10:54:30PM | DOW | 27939 | Success | ||||||||
| 10:56:18PM | NASDAQ | 11839 | Success | ||||||||
| 10:59:43PM | JAPAN | 24039 | 23854 | 23786 | 23694 | 23946 | 24062 | 24111.5 | 24196 | 23911 | ‘cess |