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Prepared by and Scott
Writing under the nom de plume of J.L. LORD

Tuesday | September 29, 2020

Hello Eizell.



Days First Debates = Tonight


YESTERDAY: September 28

SPX 3351.6 +53.14

The market jumped higher on the open with news that Nancy Pelosi was trying to orchestrate a $2.4 trillion covid relief bill.

Just like the China tariffs where we saw the market jump and fall 50 SPX points (500 Dow points) on each open based on that day's news, the covid relief bill is doing the same thing. The minis shot up to +50 on the day and sat within a 10 point range most of the day. Despite how the net changes look, it was a very boring day.

With 2 trading days left in the month, the returns for September in the SPX are currently down just over 4%.


TODAY: September 29

TODAY – News dependent on the most recent covid relief bill game.

As stated previously, this could take a while to get through – especially before an election. It is politics, not a concern. It will ONLY go through if the Democrats feel they will look good, or fail if Democrats think it will destroy Trump. Obviously, the Republicans are working with the opposite agenda – just not quite as fervently.

We have the first presidential debate tonight. If it goes bad for Biden (which seems to be a concern for people in both parties), I expect news to distract on Wednesday. We will also see chaos coming with the supreme court nomination as Democrats are stating they refuse to attend the nomination hearings. You think the next 30 days will be without a lot of market swings? Think again. It is a dangerous market to trade as all the moves are right on the open. You either come into the day with the right position, or you do nothing.


Sept 29 – Presidential debate #1
October 15 – Presidential debate #2
October 22 – Presidential debate #3

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -36% for the year (this has been here since January 1).

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

Average year with lots of intermittent volatility
(+3.71% so far)

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A separate update coming – GOOD STUFF!



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