Market today did relatively nothing as it awaits the outcome of tomorrow's Presidential and Congressional elections. The market really doesn't care which candidate wins, just the uncertainty that exists without knowing who the next President will be.
The big thing the market is really looking forward to is the amount of additional Democratic margins in the Congress. If the margins give the Democrats a lock on both houses, a SMDC (super-majority democratic congress), I am beating the markets will PB (pull-back) for a day or two and then we will probably get a post-election bounce into the end of the year to put the SP 500 around the 1100 level.
If the Democrats do get a SMDC and begin talking about raising taxes, cutting the military, etc, then you will see the market's tank as the deficit will grow without bounds.
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