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Friday, December 28, 2018 3:04:21 PM
Midterm Correction Sets Stage for 2019
By: Almanac Trader | December 28, 2018
Tax cut legislation may have held off the usual midterm year correction until much later in the year, pushing the potential low toward yearend and possibly into 2019. But this bodes well for pre-election year 2019. If the market had kept chugging along to new highs throughout 2018, gains in 2019 would have been harder to come by.
Now that we have had a sizeable correction and possibly a bit more downside in store, 2019 is setting up better than it was at the beginning of October. If the market can find support soon or early in 2019, the Fed comes to its senses and the folks in D.C. can cut some deals more normal pre-election year gains can be expected.
The third year of the 4-year presidential election cycle is still the strongest and now with the market hitting new 52-week lows the stage is set. For perspective have a look at the average 1-year seasonal patterns for the Dow, S&P 500 and NASDAQ in the chart below.
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By: Almanac Trader | December 28, 2018
Tax cut legislation may have held off the usual midterm year correction until much later in the year, pushing the potential low toward yearend and possibly into 2019. But this bodes well for pre-election year 2019. If the market had kept chugging along to new highs throughout 2018, gains in 2019 would have been harder to come by.
Now that we have had a sizeable correction and possibly a bit more downside in store, 2019 is setting up better than it was at the beginning of October. If the market can find support soon or early in 2019, the Fed comes to its senses and the folks in D.C. can cut some deals more normal pre-election year gains can be expected.
The third year of the 4-year presidential election cycle is still the strongest and now with the market hitting new 52-week lows the stage is set. For perspective have a look at the average 1-year seasonal patterns for the Dow, S&P 500 and NASDAQ in the chart below.
Read Full Story »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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