Monday, October 31, 2016

Do The Clinton Emails Matter To The Stock Market? We'll Find Out Today

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*More news broke about the case against Hillary Clinton on Friday which sent the markets lower.
*Market action today will be important to gauge if this is any real concern to markets.
*We think it's not. There is bigger positive fundamental news which is building.

Mid-day on Friday news re-surfaced about the case against Hillary Clinton. Markets took a hit (NASDAQ:QQQ)(NYSEARCA:SPY). Today's action, if we recover, which can easily happen, can be an early sign that election swings are less risky than we might believe. Building positive economic, fundamental and earnings news could be wishing the market up once the election smoke clears.
Action Will Tell Us If Clinton Emails Matter
Source: Interactive Brokers
The market took a knee-jerk hit as news surfaced that FBI Director James Comey wrote a letter to congress that he was interested in taking another look at the case.
With a week and a day left to go until the elections this event gives us a hint to potential market volatility going into election day.
If "bombshell" news can be absorbed by the market and it holds and climbs back, we have a powerful hint that post election markets can rise.
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