1. The NASDAQ 100 (QQQ) rebounded yesterday afternoon from the sharp sell off that started on September 2nd. Many of the cloud software stocks (IGV) lead the tech heavy NASDAQ 100 into positive territory. There is a lot of chatter that Europe will be locking down again due to a second wave of the coronavirus. So many of these cloud software stocks surged on this news.

2. The election is just 41 days away and there looks like a lot of political game playing can go on. Either way, a cautious stance should be taken over the next few weeks. If we have learned anything from 2020 it is to expect the unexpected. We’ll probably rally up to the election. Cycles say Biden won’t even make it to the election.

3. Gold also rebounded yesterday off of the lows showing that it is resilient right now. The chart pattern for gold is still very solid at this time.