US mid-term elections dominate price action in all markets
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US Mid-Term Elections Dominate Price Action in All Markets
US mid-term elections are dominating price action across all markets. Uncertainty creates volatility. Equities, forex, and commodities react. Traders watch for sentiment shifts. This event paused many trends. Congestion appeared as results unfolded.
Waiting for the US mid-term elections was reflected in the markets this afternoon, and following an initial move higher, that was it for the rest of the session, as all three indices rotated around the VPOC on the fast-timeframe charts and lacked both direction and participation. The price action was no great surprise given the political landscape along with the FED decision due on Thursday.
But as always on such days, it reminds us we have to be patient and wait for the trading opportunities to arrive and not force them, where none exist which was the case for index traders today. This general lack of momentum was also reflected in related markets, with the US dollar and gold both trading...