Home 2020 Wall Street Closed 2% Higher on Expectation of Trump Victory

Wall Street Closed 2% Higher on Expectation of Trump Victory

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#Wall Street $PresidentTrump #Victory #rally

$DIA $SPY $QQQ $RUTX $VXX

President Trump claims victory, hints at Supreme Court action, in White House speech“– Paul Ebeling

US stocks closed sharply higher Tuesday as Americans voted in the most Presidential election ever and investors bet it would be decided without a prolonged process, leading to a Fassst deal on more fiscal aid/relief/stimulus.

Gains were broad, with 10 of the 11 major S&P sectors in the Green, led by financials and industrials while investors pared some bets on post-vote volatility that dominated in recently.

The CBOE Volatility index (VIX) tapped a 1-wk low after marking a 4,5 month high last week.

Some analysts and Wall Street strategists see the races in the contested swing states as close enough that President Trump could piece together the 270 Electoral College votes he needs to stay in the White House another 4 yrs which he did do.

The S&P banking sub index surged to its highest in more than a wk, while industrial stocks gained, with Caterpillar Inc (NYSE:CAT) and Honeywell (NYSE:HON) International Inc up both moving higher.

The strong value and financial led stock rally the past 3 days indicate the Trump Victory had become more definitive.

At this writing the S&P 500 futures Vs fair value are +16.00 and the NAS Comp futures Vs fair value are +263.00
$SPY $QQQ

Tuesday, the benchmark US stock market indexes finished at: DJIA +554.98 at 27479.97, NAS Comp +202.96 at 11160.50, S&P 500 +58.92 at 3369.16

Volume: Trade on the NYSE came in at 862-M/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias.

  • NAS Comp +24.4% YTD
  • S&P 500 +4.3% YTD
  • DJIA -3.7% YTD
  • Russell 2000 -3.3% YTD

Looking Ahead: Investors will receive the ISM Non-Manufacturing Index for October, the ADP Employment Change Report for October, the Trade Balance Report for September, and the wkly MBA Mortgage Applications Index Wednesday.

Making and Keeping America Great!

Have a healthy day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.