Monday, November 7, 2016

FBI Saves World Markets From Potential Disaster

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*The FBI cleared Hillary Clinton after a record market losing streak.
*If not for the FBI, the China news today could have helped markets fall further.
*Instead, the "short-squeeze" "face-ripping rally" we've been calling for could have some follow-through.
*After this week, though, the market has some issues to contend with, which could cause a short-term peak.

The FBI held to its original findings that Hillary Clinton should not be charged for mishandling confidential information. The market is up nicely on the news, snapping back from a record dry spell. Global markets may have avoided a disaster today. China reported a big drop in their foreign exchange reserves. The drop was worse than consensus but better than whispers. The drop, though, is concerning, which is a fly that may follow this bullish ointment.
Record Market Drop Into Elections Relief Rally
The market has relief today that Hillary Clinton could come out victorious in the elections.
Here's the Dow (NYSEARCA:DIA).
Source: Interactive Brokers
We said last Sunday that lower Federal Reserve balances could weigh on the markets. We did expect a "Fed Short Squeeze" after the Fed announcement on Wednesday. Last Monday we saw positive fundamental factors building when we expected "a post-election jump potential for markets."
We don't yet know the outcome of the elections but the Clinton email issue, for now is resolved and may kickstart this elections rally.
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