SPY/QQQ Plan Your Trade - 7-24 : Review & The Kamala Shakeout

After a long drive and trying to get through LA, I wanted to discuss what I believe is taking place in the US/Global markets. What I call the "Kamala Shakeout".

Over the past few weeks, there has been much news related to Trump/Biden and the potential election consequences.

But all of those expectations changed because of two rather large events..

_ the assassination attempt on Trump
_ Biden's withdrawal from the race - resulting in Kamala Harris's rise.

Now, I believe the markets are starting to digest the amount and scale of uncertainty related to a new POTUS candidate (with almost no knowledge of her policies, plans, and expectations) and the outcome in November (only 90+ days away).

IMO, what we are seeing right now is actual FEAR related to the unknown factors centered around Kamala Harris.

I believe voters and businesses already had expectations related to Biden/Trump (either outcome) based on the past 8 years. Now, with Kamala Harris, who knows what the expectations are related to plans, policies, and expectations?

That is why the markets rolled as hard as they did today. The markets are pricing a new degree of uncertainty and will continue the Kamala Shakeout until the dust settles.

I'll fill you in with more details tomorrow morning.

#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold