XAUUSD3924.2819843342 just printed below its July low.

Another prophecy fulfilled.

ES1!7658.5 is testing 7,650 as I'm writing this. Despite the negative earnings reactions across major tech names, I do think this level should hold. Indices, especially tech, have pulled back over the past few days, but breadth remains fine.

Sentiment heading into the election is quite negative. Combined with the recent earnings-driven pullback, that could set the stage for a sharp rally if election manipulation produces a Republican landslide.

Price action today and in the next trading session will be critical tells for the election result. We all know by now how common insider trading has become under this administration. If a Republican victory is already predetermined, the market should rally hard over these two sessions despite the negative earnings reactions.

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