Two things…

Yesterday’s high in the S&P, 5666.9, is an ominous number. Looking back on the other side of the coin, the March 2009 low of 666.0 was a watershed moment.

As such big things may be happening as the market contemplates the economic Chaos potential of a Trump Presidency. A big Fibonacci move down risk is inherent. If that triggers, 4700 level on S&P is a target.

Two fundamentals to watch are:

1. The Cost/Time/Payback ratio for AI investments.
2. A tentative slowing consumer as they watch the election playout.