Election Recount and Possible Effects on Forex
As many of you may know a recount effort is being made began by the Independent Jill Stein who gained 1% of the vote in Wisconsin which was a battleground state in the recent presidential election. Stein raised more money for the recount in a few days than she did all year for her efforts in the last year while running for President. It appears Hillary and company are in on the action.
I sent an email out to members on my thought Sunday night. At that time I suggested a going short usdjpy and gbpjpy. Here are the charts sent. One thing that we must keep in mind is that market uncertainty typically created volatility. We can see this from most stock market crashes and the aftermath that follows. In 2008 we saw the huge increase in volatility when the CDO climate was met with massive amount hysteria due to the housing market crash. We can’t predict for sure what will happen at these levels on the USD and the SPX500, however we can say that from these charts the markets are running on thin ice. I made a video last week on the thought that we may be soon coming to a top in the markets. We have not seen a top just yet, however I think my forcast remains a strong case as long as we experience the volatile political climate that we have seen in our nation as of late.