Trump Tweet Demolishes Market
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Hey, there. Welcome to today’s Rude Awakening!
It’s a strong open this morning, with some BIG changes that occurred in the market late yesterday.
Let’s take a look at what caused this change, and see how we can use the market choppiness to our advantage…
Trump Tweet Spurs Huge Market Change
Late yesterday, a Tweet came out from President Trump that expressed his unwillingness to take part in any more stimulus negotiations until after the upcoming election.
Up to that point, the market was in a nice upward trend and had a very bullish breakout a mere 30 minutes before the president’s Tweet.
But after the social media update, the futures market bottomed out very quickly.
It has been slowly progressing throughout the evening and into the morning, but as you can see in today’s video, we now have a lot of chop going on.
When we look at our analysis, there’s been a changing of the guard, with no real direction at this time. People are scrambling to change positions and get into new overall trades.
Just yesterday, Amazon dropped by $100 per share, putting it down at about $3,100.
Now, if you’re new to Amazon, that decline is going to shake you and you’re going to want to pivot fast.
But, if you got into Amazon early this year when it was at a $1,600 level, you know that this drop is just a blip on the radar.
When you look at all of the changes, it’s easy to see that this could truly be a catalyst in the
Take Advantage Of The Market With This Proven Tesla Trade
Today, we have a trade that’s worked well in the past and will help you make the best use of today’s market.
Tesla has come into a nice trading range. We have support around the 340 level, and resistance around the 480 level.
This matters because Tesla has an earnings announcement coming out on October 28th, which makes this a prime time to make a move.
We want to make a trade that will help us take advantage of the high implied volatility in Tesla, but also the specified trading range that it has.
And we want to do all of this prior to Tesla’s earnings announcement at the end of this month.
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That’s it for today!
We’ll talk again tomorrow…
Editor, Rude Awakening