Transcript
Well, hello, everybody, welcome to Monday of election week, we’re finally getting into the election. We’ve been waiting for this for a long time, it’ll be very interesting to see how this all plays out, and how it affects the stock market, we got a little bit of an inkling of what’s happening today, the S&P 500 was up 1.2%. But we did see big run up in clean energy, which I think is sort of a Biden/Democrat play, you know, the two pieces of clean energy we have, we’re at 4.4%, today, and 1.8%, between the two of them. So kind of tells you where the market thinks things might be going, obviously hard to tell.
We had some great results with Smart Mobility being up 3.2%. And us home construction was also up 3.1%. So, good pieces that we’re moving pretty strongly today. But we’re gonna have some trouble really moving out of this range that we’re in here, especially with all the other volatility. And let me show you what I’m talking about. So this is the Vanguard S&P 500 index. And this green portion out here is the Volume Profile. And so again, you know, each one of these bars shows how many shares were purchased at those prices. This red line here shows, you know, the highest for the last year, which as we mentioned on Friday is right where it bounced off of.
Well, the other part of this is the resistance, we’ve fallen through this fairly big chunk of volume right here. And you can see all three of these moves back have been stopped by that. So again, if I buy at $10, and it drops to $7, when it gets back to $10, I might want my money back. So that’s the idea behind resistance. So I do think we’re going to have a little bit of trouble getting through that as far as that goes. But I think it’s really obviously more about this election and does it go smoothly? Is this something that happens? You know, is there a Republican Senate and a Democratic White House where the stimulus might be affected? Those are the types of things that we have to watch for.
We’ve got this resistance we’re looking at, we’re looking at this support. And so a really interesting timeframe right now to see where things go. So pretty good day for us all together, as far as I’m concerned. And let’s look and see what happens tomorrow on election day. I’ll talk to you then. Thank you.