Anyone scalping the FTSE Futures??

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Entering a bounce area

 

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Add some lines

 

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And pump

 

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Should be in rez

 

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Poss supp/rez marked

 

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[postman]

Vix plummeting.
All indicies heading for the moon.
Trumps odds of winning growing dramatically he's come in from 2:1 to 1.5:1

Chaos reigns today.

 

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And bounce from minor support

 

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Ostwald, Marc​

08:24 (2 hours ago)

........** U.S.A. - Elections **
- While there has been considerable volatility in markets ahead of today's election, they are on balance priced for a Biden/Democrat 'clean sweep', though eminently very aware that opinion polls were way off in 2016. While there are numerous permutations in outcome terms (with the presidency, 35 Senate seats and all 435 House seats "up for grabs"), the biggest market fear is too many close contests, resulting in endless recounts and legal challenges, and given a highly divisive campaign and a deeply divided electorate, the potential for escalating social unrest and violence. The risk of the latter would not be mitigated by a clear result, which could amongst other things deliver a Trump presidency, but Democrats controlling Congress, or the status quo 'division' in Congress. Be that as it may, there would appear to be a number of issues, which will be important: a) what will be the prospects for a fiscal package post-election? The need is palpably obvious, but further delays would unseat recovery hopes / prospects; b) US/China relations - to be frank, Congress has been increasingly hostile to China for the past decade, so neither Trump or Biden really changes the status of the relationship, though the rhetoric would probably more 'civil' under Biden, the struggle for economic and geopolitical supremacy (the so called 'Thucydides Trap') will continue; c) rather foolishly the UK government's post Brexit strategy pins a great deal of hope on sealing a US/UK trade pact, which would not be a priority for a Biden govt, and even less so for a Democrat controlled Congress, for whom adherence to the 'Good Friday Agreement' is absolutely sacrosanct; d) EU/Germany - relations with the US are at a post WWII low, with the Trump attacks on a myriad of international institutions (e.g. NATO, WTO, Paris Climate change agreement and WHO) perhaps more worrying for the EU/Germany than perennial trade tensions. That said a Biden presidency which would likely look to boost 'green' infrastructure spending may leave the EU's 'green recovery' plans under pressure, given that the competition for related technological leadership would likely see the EU as the poor relation as China and US go head to head in that arena. It is perhaps worth noting on spending plans, the consensus estimates (worth probably as much as pre-election polling) suggest that a Trump presidency would see US debt/GDP rises to just over 125%, and under Biden to around 128% - in other words, this is not a real difference, from a big picture perspective. Also via way of a technical point, a reminder that the FOMC meeting concludes on Thursday rather than the 'usual' Wednesday, due to the election. A point to ponder post-election is whether the key pivot in FX reaction terms is not USD/EUR, but rather USD and EUR vs. CNY and JPY, both from the aspect that Asia will more than likely outperform both the US & Eurozone as economies eventually recover from the pandemic, as well as China's ostensible tolerance of a stronger CNY - also see Friday's Investing Channel video:

to Marc

 

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In rez

 

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