Emini S&P 500 expectations.

This is an interesting entry signal for a short play inside the blue circle. The downtrend is still in place...

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The 2750 level is a zone of resistance, if price go down below the 2700 level it will probably fall with force. On the other hand, if price breaks above the 2750 level then market probably will be looking to reach the 2780-2800 level. (MY EXPECTATIONS)
 
Well, price did not come down, it went up during extended section and hit my stop. This big retracement indeed was suspicious. I should have listened better, important resistant price levels were also breached previously. This painted a bull price structure in the short term inside a downtrend environment in the long term perspective, new trends start like this. Anyway, now looking for a pullback to the 2740-2750 level which now became support. Could it be a good spot for long entry position ?, only price action will tell. Lection learned.

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Big drop and recovery at the close. Look inside the blue circle, we need to find out if this support area will hold, we will find out on Sunday evening. Happy weekend.

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How will the US midterm elections affect the financial markets?

It seems the biggest risk to markets is yet to come - the 6 November US midterm elections. That's because the balance of power in Washington has meaningful implications for domestic policy and foreign relations. This results in a global impact across all markets.

Any opinions?...
 
It is always hard to tell what a market will do. I just try to wait to read past price action, I know sometimes emotions get in the way but I try hard to wait until a clear market context is formed before taking action. Sometimes I get in to soon and I get burned.
 
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