ByDHTaylor

There goes the neighborhood... S&P 500 will continue lower

Short
CME_MINI:ES1!   Contrats à terme E-mini S&P 500
I had posted earlier over the past couple of weeks regarding the potential of a drop in the S&P 500 due to three factors: The upcoming election, spikes in COVID cases and the lack of the federal government producing any meaningful stimulus. These factors are coming front and center. And, the market just dropped nearly 2% on these factors.

I'm looking for continued prices moving lower; albeit, not all at one time nor in one straight line. Longterm, I am looking for a move lower to test 3,200 and then levels at 3,000. This will likely take until January, around the time Trump is shown to the door.

SPX

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