[Altos Weekly Traders Edge] Presidential Debate Showdown and the Market Response...Details Inside

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So if you want to see an incredible solution to high gas prices… [Check out our urgent report right here.]( To Better Trading, Alex Reid By clicking the link above you agree to periodic updates from Wealthpin and its partners ([privacy policy]( Harris vs. Trump Showdown: Market Movements Hint at Debate Victor Weekly Market Overview Hi Traders, The much-anticipated debate between Donald Trump and Kamala Harris provided both candidates an opportunity to clash over key issues like inflation, immigration, and abortion rights. While this faceoff is likely to be their only one before the 2024 election, it generated significant headlines and prompted swift reactions across financial markets. From the outset, Harris took a direct approach, engaging Trump on his policies and behavior in office. She challenged his economic record, particularly his use of tariffs, which she argued would harm the middle class by functioning as an indirect tax. Harris also wasted no time in attacking Trump’s continued focus on the 2020 election, reminding viewers that he was fired by 81 million voters. Trump, on the other hand, focused heavily on inflation and immigration, areas he claims are hurting Americans under the current administration. He consistently tied Harris to President Biden, asserting that “she is Biden,” and highlighting what he called a “horrible economy” as a result of the administration's policies. Trump's stance on inflation resonated with his supporters, though Harris dismissed these claims by asserting that the administration was steering the country in the right direction. However, one of the most significant post-debate developments was not about policy at all—it was the surprise endorsement of Harris by pop star Taylor Swift. Swift, with her massive social media following, encouraged young women to vote for Harris, calling her a "gifted leader." This endorsement could prove critical, given the need for Harris to mobilize younger voters, a demographic that doesn’t always show up at the polls in large numbers. Financial Market Reactions Hints on the Winner While political analysts were debating who won, the financial markets provided their own verdict. Market movements early Wednesday suggested that traders believed Harris had the upper hand. U.S. stock futures edged lower, and the dollar weakened against major currencies, particularly the Japanese yen (USDJPY). The dollar’s decline came alongside a dip in U.S. Treasury yields, indicating a possible shift in sentiment about Trump’s chances in the race. The most striking market reaction was the sharp fall in shares of Trump Media & Technology Group (DJT), which tumbled by 15% in premarket trading. This drop suggested that investors were recalibrating their expectations for a potential second Trump presidency. Trump Media shares have historically been sensitive to political developments, moving in line with Trump’s perceived chances of winning. Another notable move came in the solar energy sector. Shares of companies like First Solar (FSLR) and SunRun (RUN) rallied, buoyed by investor optimism about Harris’s potential policies on renewable energy. A Democratic win in 2024 would likely see more favorable conditions for green energy investments, which could explain the surge in solar stocks. Bitcoin (BTCUSD) also experienced a drop of 2%, reflecting a more cautious tone in risk assets. With Harris performing well in the debate, traders appeared to be factoring in a reduced likelihood of Trump’s return to the White House, which may have contributed to this slight dip in Bitcoin and other cryptocurrencies. Market analysts noted that the weakening dollar and the uptick in solar stocks aligned with the sentiment that Harris had an edge in the debate. They pointed out that Swift's endorsement likely boosted Harris’s appeal to younger voters, a critical demographic for the Democratic campaign. Also, early signs in the futures markets pointed toward a belief among traders that Harris could have gained the upper hand. Prediction markets also showed a modest bump in Harris’s odds of winning the presidency following the debate. Ultimately, while the debate itself covered key national issues, the financial markets reacted strongly to the broader implications of Harris’s performance and its potential impact on the 2024 election. Investors appeared to be adjusting their portfolios in anticipation of a possible shift in policy direction should Harris secure a victory. - The Team at Altos Trading In the next article, Wells Fargo warns that the stock market’s upward momentum is losing steam, with multiple factors likely preventing new highs in the near future. 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The historical options over the last 5 years have shown a remarkable 169.1% average return per trade of winners and losers over that same 28 day average hold time. By clicking the link above you agree to periodic updates from ProsperityPub and its partners ([privacy policy]( Recession, Geopolitical Tensions Could Cap Stock Market Gains Wells Fargo has recently indicated that the stock market may not reach new highs in the near future, given several ongoing challenges. The bank's strategists suggest that the market has reached a point where it is "fairly valued" and faces key resistance around the S&P 500's record high of 5,670, which was hit earlier this summer. While the market has had a strong run this year, particularly fueled by enthusiasm around artificial intelligence (AI) and hopes for Federal Reserve rate cuts, Wells Fargo is now signaling a shift in the outlook. One of the major concerns is the potential for a recession. While the market has benefited from optimism about a soft landing and the Federal Reserve’s expected rate cuts, uncertainty remains about the future direction of the economy. Wells Fargo points out that many investors are still questioning whether the U.S. can avoid a recession altogether, which adds a significant layer of risk to stock prices. Geopolitical issues are also adding to the market's unease. Tensions in the Middle East have created a backdrop of uncertainty that could limit the market’s upside. While the S&P 500 remains in an uptrend, the bank sees geopolitical volatility as a potential roadblock to significant new gains in the near term. Historically, election years tend to introduce more volatility as well, and with the U.S. presidential race between Kamala Harris and Donald Trump heating up, the political environment is adding another layer of complexity for investors. Another headwind comes from the recent AI-driven rally, which has cooled off somewhat. Earlier in the year, AI stocks helped boost the broader market to new highs, as investors were excited about the potential of this technology. However, Wells Fargo suggests that the rally in AI stocks may be running out of steam, with questions emerging about whether these companies can sustain such high valuations and growth rates. This could further weigh on the overall market, particularly given how much technology stocks have influenced broader indices like the S&P 500. Despite these challenges, Wells Fargo notes that there may still be opportunities for investors to reposition their portfolios. Specifically, the bank highlights areas of the market that have been overlooked and might offer upside potential in the coming years. These include emerging markets and sectors like consumer discretionary, consumer staples, utilities, and real estate. While these areas may not have been favored during the recent AI boom, they could see stronger performance if the economic landscape shifts. Investor sentiment has already tempered somewhat since the start of the year, with growth fears beginning to overshadow the earlier excitement about AI and monetary easing. In fact, a recent AAII Investor Sentiment survey shows that only about 45% of investors are bullish on the market over the next six months, down from 51% just a month ago. This decline in sentiment reflects the growing caution among investors as they navigate an environment of economic uncertainty, political risks, and questions about the sustainability of the AI-driven market gains. To end, while the stock market may still be in an uptrend, Wells Fargo sees several factors that could prevent it from reaching new highs in the near future. Investors may need to adjust their strategies and explore undervalued areas of the market to find opportunities in this more challenging environment. 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However, the publishers of the Altos Trading Alert Newsletter are not brokers or investment advisers, and do not provide investment advice or recommendations directed to any particular subscriber or in view of the particular circumstances of any particular person. Altos Trading, including its owner, does not participate in any trades issued through the alert services. Subscribers to Altos Trading or any other persons who buy, sell or hold securities should do so with caution and consult with a broker or investment adviser before doing so. Trading securities and options involves risk. Prior to buying or selling an option, an investor must receive a copy of Characteristics and Risks of Standardized Options. Investors need a broker to trade securities and options, and must meet suitability requirements. Past results are not necessarily indicative of future performance. Performance figures are based on actual recommendations. Due to the time critical nature of trading, brokerage fees, and the activity of other subscribers, there is no guarantee that subscribers will mirror the performance of the service. Performance numbers shown are based on trades subscribers could enter based on the trade alerts. Altos Trading, LLC assumes no responsibility for any losses incurred by any individual or entity as a result of trade alerts or strategies taught through courses or coaching services. 7154 W State Street Suite 169 Boise Idaho 83714 USA Disclaimer: The Altos Trading Alert Newsletter is published as an information service for subscribers, and it includes opinions as to buying, selling and holding various stocks and other securities. However, the publishers of the Altos Trading Alert Newsletter are not brokers or investment advisers, and do not provide investment advice or recommendations directed to any particular subscriber or in view of the particular circumstances of any particular person. Altos Trading, including its owner, does not participate in any trades issued through the alert services. Subscribers to Altos Trading or any other persons who buy, sell or hold securities should do so with caution and consult with a broker or investment adviser before doing so. Trading securities and options involves risk. Prior to buying or selling an option, an investor must receive a copy of Characteristics and Risks of Standardized Options. Investors need a broker to trade securities and options, and must meet suitability requirements. Past results are not necessarily indicative of future performance. Performance figures are based on actual recommendations. Due to the time critical nature of trading, brokerage fees, and the activity of other subscribers, there is no guarantee that subscribers will mirror the performance of the service. Performance numbers shown are based on trades subscribers could enter based on the trade alerts. Altos Trading, LLC assumes no responsibility for any losses incurred by any individual or entity as a result of trade alerts or strategies taught through courses or coaching services. 7154 W State Street Suite 169 Boise Idaho 83714 USA [Unsubscribe]( | [Change Subscriber Options](