November 8, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Investor Optimism

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the stock market is in the support/resistance zone.
• The chart shows RSI can go either way.
• Wall Street positioning going into the election is positive.  Understanding positioning can give you an edge.  To develop deep knowledge of positioning, listen to the podcast titled “Market Mechanics: Positioning.”
• Due to the positive positioning of Wall Street, if Republicans do not capture the Senate, there is a fair probability of a quick selloff.