In all our years we have never seen a more obvious and blatant attempt to steal an election! The actions in a few “cooked” states are deplorable and appear devoid of integrity. It is unconscionable that so many one-sided, late night ballot dumping votes* could suddenly appear (among other irregularities) and must be railed against. It reminds us of the line from the 1948 film, Key Largo, that says, “Then after the election, we count the votes. And if they don’t turn out right, we recount them. And recount them again. Until they do.” Only this time it’s not in Florida.
The freedom of democracy that our constitution protects is in the process of being stripped away before our eyes. We must pray urgently & fervently. We must be vocal. LOUD. And possibly mobilized into action through assembly, yet PEACEFULLY. Our future as a free and prosperous nation is in jeopardy if this sort of apparent corruption is left unchecked.
On a market note, our Current Market Outlook has been upgraded to “Uptrend Under Pressure” with a “yellow” light. Three of our Core Four indicators are yellow and the last is green. This combination signals caution yet reflects an outlook that is trying to improve.
Most of the leading indexes rocketed higher today and did so on increased volume. A new rally attempt is under way, and its staying power will likely be tested in the days ahead. Watch for signs of professional selling (aka. Distribution Days) over the next 3 trading days. Immediate bouts of high-volume selling would put the success of this post-election rally attempt into serious doubt.
In our last post we wrote, “While the opportunity for a snap-back rally and a move back to a yellow signal exists, it is unlikely to develop without a major positive catalyst that would remove fear and engender boldness by investors.” That rally and signal change to yellow has now happened. What was the positive catalyst? As far as the market is concerned, it appears to have arrived in the form of no “Blue Wave.”
Areas of leadership are emerging in the stock market. We continue to study those trends each day and we are developing action plans for inclusion in our strategies for our clients.
What can an investor do? Pray for our country. Ask the Lord Jesus for help to walk in wisdom and integrity. Begin to commit small amounts to your watch list ideas that are showing winning characteristics.
Have a Triumphant day! ®
* Wisconsin and Michigan. This hotlink was left out of the original post and was added 2 days later.
The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice.
©2020 Triumphant Portfolio Management, LLC.