Big Rally One Day Before Election

Stocks are rallying signalling a HRC win. I saw that 200 dma at 2083 last week when I made that post and should have moved my support call up from 2070 to 2083. Oh well. Neat to see how spot on the support level was with the 200 dma. Now we'll watch the interaction with the downsloping 50 dma. A break above on huge volume would be very bullish for a big Christmas rally and ensuing January effect.

Quadruple Bottom Breakdown Yesterday

Quadruple Bottom Breakdown on S&P 500. Support at 2070. 2040 if that fails. Sit tight.

S&P: 2105 (-6.57)

Uh, yeah, 2120

Sturm Ruger (RGR 58.20)

Look for a break above 58 on big volume. Ruger will do well in a Clinton victory or even signs that she'll win, which we may be seeing now in the stock's action.

S&P Testing Support of 2120

Actually hit 2114 in its daily range today. Recovered to 2138 but closed on the slide at 2132. 2120 is a pretty solid number and if it fails we could see the 200 dma near 2070.
Of course, the election could play a pivotal role. Polls show Hillary winning by a landslide but there are rumors of more Clinton emails to be released.

Steve Jobs

Today marks 5 years since Jobs passed away. I've got some great links in this post from 2011.

The S&P Never Looked Back

It was liftoff from this point. With a pivotal level at 1219 and the pennant forming it was like a coiled spring. +75% later we're at 2127.
And then there's this. Keeping things in perspective.

Septembers

Historically, September is the worst month for stocks. The market has been pretty quiet lately and you never short a dull market but today it took it on the chin a little. Biggest one-day decline since the end of June. The S&P dove below it's 50 dma but it's done so twice since May. Still, not too much to worry about outside of September 11th, in just two days, and an election in 60.

DJIA 18,085.45 -394.46 (-2.13%)
S&P  2,127.81   -53.49 (-2.45%)
NAZ 5,125.91   -133.57 (-2.54%)

Soooo...

...I've been thinkin'.
Remember the housing bubble, ensuing economic meltdown and the bailouts. Ohhh, the bailouts, those beautiful bailouts, with Big Brother swooping in to save the day. Are you asking yourself what's going to happen this time around?

I am...