Daily Alert – Wednesday 9th November 2022: Republicans likely to take House; Senate too close to call

Mark NugentDaily Alert, Nov 2022

Daily Alert – Wednesday 9th November 2022: Republicans likely to take House; Senate too close to call

Good morning.

It looks like the mid-term election in the US will produce a Republican majority in the House of Representatives. Not exactly a red wave, as some predicted, but progress from their point of view. The senate is currently too close to call with one surprise Republican loss so far.

Markets are calm and watching.

Yesterday’s risk sentiment was indecisive, but it was a jumbled picture with three of the five measures showing risk-off and the remainder showing risk-on.

I placed no trades.

Right now (10am UK-time), equities are slightly down, and the USD and GBP are moving in line with my bias, so there’s developing opportunity.

I will watch risk-sentiment during the day (especially for equity trading, not so much for GBPUSD) and see if my set-ups develop as the day wears on.

I’ll be back tomorrow.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE