THE ELECTION SCENARIO

Dow Jones does not normally churn out 3 negative weeks in a row. We have started the 3rd week on a negative tone and are currently at 41,733. Might as well point out that 41,500 is a technical level and not that far away. During the last 10 sessions, we have had just 2 in the green. Is that saying something?

S&P 500, though more representative, is showing a similar picture. Setting up for a post-election rally or something else...

Brent is moving significantly bullishly having rebounded from 71, a solid wholesale kind of level. With positive supporting indicators, this may have some room to move northwards if gets past 76. Currently at 75.5.

Gold turned out a strongly negative candle last week at record levels. We may see some downside here based on a couple of indicator divergences, though the metal is not used to significant negative runs lately.

Silver, on the other hand, has already printed downsides on the charts and is at an inflection level around 32. We tend to favour more downsides though... lets see. Probably in for some interesting markets over the next few days.