Today on the Marketbeat: And the winner is? The Bulls!!

Market Numbers @ Close:

DOW: +303

S&P: +39

NASDAQ: +53

RUS2K: +7

TSX/S&P: +421

VIX: -6

Internals:

Core Sector List: 15/1 to the bulls, Gold leader - 

NYSE

BREADTH: 7/1 to the Bulls

A/D LINE: 1700 ticks

TRIN: 0.58

NASDAQ

BREADTH: 5/1 to the Bulls

A/D LINE: 800 ticks

TRIN: 0.38

Today on the Marketbeat: And the winner is? The Bulls!!

The election day got off to a hot start in US equities as the Dow and S&P opened up on a solid gap up to R1. After which it backed off a bit only to bounce off that days low to rip up to R3 on each respective index. From here on in it was pretty much a chop fest from 11:30 to 2pm as the bulls and bears went to go vote. Around 2pm the market lost R3 and bounced off R2 to rally into the close with the S&P rallying into the close and holding 1000 on the day into the close (closing @ 1002 on the ES futures and 9590 on the YM)

Under the hood, the markets were essentially bullish all day, as the breadth closed @ it's highs giving the bulls a 8/1  day on the NYSE and a /1 day on the NASDAQ. The AD LINES tacked on some solid gains, + on the NYSE and + on the NASDAQ while the TRIN is starting to take its place again closing near the lows. The Tick spent most of the day above 0, telling us to stay bullish on the day.

Overall It was a solid rally day, especially since it was also a Presidential election day. Knowing that tomorrow the US will have a new president, one could be shocked at the lack of indecision. However now that alot of the big headlines are almost out of the way, one could see the correlation with the markets willingness to hold onto gains, instead of pissing them away. 

My outlook for tomorrow really depends on the headlines on the newspaper, aka who wins. Its not that I believe which party wins will have a big effect on the direction of the markets. I believe just knowing who wins will. What I mean will if there is a tie or re-count the market could re-act badly. However, if there is a clear cut winner, we could see the markets tack on some more gains, or retrace a bit, either way we as personal investors know our roles, and that is 1) Wait for the market to show its hand, 2) act on it. Now many plays are setting up for Buy the dips. I will list those candidates here

Buy the Dips:

VLO / MMM / UAUA / SLV 

Other nice looking setups:

PEG / AEP / OIH / SMH / DBA / MCHP / PPG