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Keep An Eye On The S&P Mini Futures Overnight

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Keep An Eye On The S&P Mini Futures Overnight

The market’s rebound caught a lot of people by surprise, TD Ameritrade Chief Strategist JJ Kinahan told Benzinga.

"If you look at the way the market has voted, they have voted for a Clinton victory," he explained. "So, when I see something like that, because of turnout or whatever it may be, it seems like the market is thinking this probability is becoming higher."

There are reasons to love the financials sector, "in terms of a pending rate hike." However, if Clinton turns toward more “Bernie Sanders-like” policies, financials might get hurt. There is no telling what will happen as “it’s pure speculation.” Kinahan pointed out the importance of the House and Senate elections, which seem underrated by most investors.

Investors should look at what the CBOE Volatility Index (INDEXCBOE:VIX) does at the close.

"Do bonds continue their selloff or do people come for some protection there on the close?"

Kinahan continued, "To me, really, the more interesting thing for people to focus or watch [are]… S&P Mini Futures overnight… The last thing to keep in mind is that, theoretically, if Mr. Trump gets in, it would be bad for Mexico. So watch the Peso versus the U.S. Dollar."

 

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