A Case of The "Pre-Election Jitters"
Pre-Election Jitters
It’s natural to feel nervous before a big event, but you’d think the market would be used to elections by now.
Nope.
Human nature reigns supreme once again.
No matter how apolitical investors claim to be before an election, price action tells a different story.
The reality is that the market has some Pre-Election Jitters.
Just look at the Giants.
The ten stocks below make up roughly one-third of the S&P 500 and all have a case of the Pre-Election Jitters.
$AAPL – Apple – (~7%) of the S&P 500
Failing to breakout over the past week….Pre-Election Jitters.
$NVDA – NVIDIA – (~6.9%) of the S&P 500
NVIDIA stalling out before making new ATHs…..Pre-Election Jitters.
$MSFT – Microsoft -(~6.3%) of the S&P 500
Microsoft struggling to stay above it’s 200 day….Pre-Election Jitters.
$AMZN – Amazon – (~3.8%) of the S&P 500
Amazon failing to breakout to new highs following solid earnings….Pre-Election Jitters.
$META – Meta – (~2.5%) Of The S&P 500
Meta slowly rolling over back to it’s breakout level…..Pre-Election Jitters.
$GOOGL – Alphabet – (~2%) Of The S&P 500
Nice rally post earnings then retreated back to the breakout level…..Pre-Election Jitters.
$BRKB – Berkshire – (~1.7%) Of The S&P 500
Retreating back to it’s breakout levels….Pre-Election Jitters.
$AVGO – Broadcom – (~1.6%) Of The S&P 500
Broadcom retreating below those late June Highs….Pre-Election Jitters.
$TSLA – Tesla – (1.4%) Of The S&P 500
Tesl with a huge rally post earnings but failing to breakout…..Pre-Election Jitters.
How do you overcome The Jitters?
Be patient; there’s no need to be a hero this week.
The opportunities will come, remember this is all occurring within the context of a bull market. So I’m inclined to believe the resolutions will be higher.
But right now, the Giants are signaling to stay away until they overcome their Pre-Election Jitters.
Cheers,
LT3
