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Stocks became surprisingly perky on Monday, the day before the election that everyone seems to be fearing. The Dow gained 423-points which, along with small caps, led the market on upside. That wasn't exactly 2016-like when stocks were declining sharply right up to, and including, election day. One positive day with the VIX still in the high 30's may not mean much yet.

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Originally Posted by coolhand

Was today's positive action a precursor to a bigger move? Early positioning? I don't want to read too much into it, but it's possible. We know the smart money has not been embracing weakness either.




The charts are not much changed, but is momentum ready to turn up? It looks like it might be.



Breadth remains bearish, but it has been trending

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Stocks sold off again on Friday, with those FAANG earnings being one of the main catalysts, although COVID and the election is still part of the equation. A late rally took the indices off their lows as investors didn't seem to want to be short heading into the weekend, perhaps in hopes of a stimulus deal may be done, and the indices were certainly getting oversold in the short-term. The Dow lost "just" 158-points, or 0.59%, but the broader indices took a much stiffer hit.
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Economic Calendar


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Originally Posted by coolhand

Last week was not pretty for the bulls. All 3 TSP stock funds were down more than 5%.




The charts are now showing significant technical damage with price on both charts sitting below their 50 dma's. Momentum continues to fall. The S&P 500 looks like it may try to test its 200 dma. It's an attractive target for the bears, but that would require another day like we had last Wednesday. Volume has been elevated

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