Election Week

Events this last week did indeed swing the market up and down, however the resulting net effect was a barely changed week, that yet again does not present any clear trading signal for this week. With the presidential election taking place on Tuesday, this is not an unhappy position to be in. We may be tempted to buy a small position of 3 contracts on a fall below 1390, similarly to sell 3 contracts on a rally above 1440. Ideally we need the forthcoming week to finish at either of the above scale before we would commit a full position.The presidential result could indeed provide such impetus.