Pretty good possibility that we go lower after a week or two bounce because:
- We have not hit the 200DMA yet which is usually where these dips find support
- Election fears, Biden and Democrats in general will not be good for the market
(They have been in the past, but the first thing they want to do is reverse Trump's tax cuts. I think the Senate matters more than the presidency, if the Democrats take over the Senate and presidency, it's all over for the market)
- We have not hit the 200DMA yet which is usually where these dips find support
- Election fears, Biden and Democrats in general will not be good for the market
(They have been in the past, but the first thing they want to do is reverse Trump's tax cuts. I think the Senate matters more than the presidency, if the Democrats take over the Senate and presidency, it's all over for the market)