OptionsHouse

Options Trading News

November 6, 2012  Tue 1:16 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
There are no economic events on today's calendar, and attention will likely focus on politics.

The big event will be the U.S. presidential election, with most analysts expecting a positive response if Republican Mitt Romney defeats incumbent Democrat Barack Obama. Results of the election won't be known until after the market is closed, so it could have more impact tomorrow than today.

Also tomorrow, Greece's parliament will vote on unpopular austerity measures needed for the country to emerge from its debt crisis. If Romney wins and the Greek legislation passes, stocks could rally, while the opposite could be true if Obama prevails and the austerity package fails.

Economic data will return to relevance on Thursday with the release of weekly jobless claims, followed by consumer sentiment Friday morning.
Share this article with your friends


OptionsHouse

Premium Services

Education & Strategy

Timing the Trade

Both break outs and a break downs need to have a couple things happen before it is considered a confirmed break out or break down by technical definition!  The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

View more education articles »