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Good Tuesday morning!
Well here it is....ELECTION DAY!!!!
The next 24-48 hours will be quite difficult to navigate so sitting on hands and letting the dust settle is the right call for most people. Aggressive traders can try to trade this volatility, and as always, I will give you the important levels to watch, so at the very least they will help you!
In the profile pic and key levels below, as long as price stays above 5748 - 5744 then the buyers are present and look for upper targets. If the sellers step up and take price below 5744, then look for lower targets. Futures are trading @ 5755 at the time of this writing.
VPOC Update: A new VPOC was added yesterday above @ 5778.50 so now we have two VPOC's above current price. As I have mentioned before, when the trend starts to change you will see VPOC's get added above and taken out below and that has been happening recently. We now have 2 above and 25 below current price.
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 5780 - 5790
Key Levels: 5748 1/2 Back and POC 5744
downside target is: 5720 - 5710
/NQ upside target is: 20,260 - 20,290
Key Level: 20,120 1/2 Back
downside target is : 19,935 - 19,905
/RTY upside target is: 2240 - 2250
downside target is: 2215 - 2205
Economic Data:
International Trade in Goods and Services @ 9:30 AM ET
ISM Services Index @ 11:00 AM ET
4-Week Bill Announcement @ 12:00 PM ET
8-Week Bill Announcement @ 12:00 PM ET
4-Month Bill Announcement @ 12:00 PM ET
10-Yr Note Auction @ 2:00 PM ET
More Color....... By Analyst Rich Rickus
ELECTION DAY!!!!
I will not be on the charts today or tomorrow.
Have a fantastic day!
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