Stock Market Update Wednesday November 6, 2024 The election results have emerged sooner than some expected. This is obviously positive for financial markets, as it removes the uncertainty that would have accompanied a delayed election outcome. Investors should focus on tomorrow's comments made during Jerome Powell's press conference.
Markets peak on bullish news, and Trump's winning the 2024 election could be the most bullish news for the markets this year. This does not mean that markets will correct immediately or that selling from institutions will take place; rather, we believe some profit-taking will occur. One chart that we need to watch carefully is gold, which was down over 3% at one point today.
We do not predict market tops or bottoms; instead, we prepare for the next move. That is why my team and I have created our proprietary algorithm. When our algorithm triggers sell alerts for all four indexes, we do not buy stocks and instead prepare for the next move.
