November 7th Daily Market Comments

The elections apparently did not surprise anybody, the bullish direction of the markets continue. Keep watch! The Dow is currently trading at the 50 day moving average and the NASDAQ is trading up to the 200 day moving average. These levels need to be watched carefully as potential resistance levels. However, the S&P 500 has gapped through the 200 day moving average making the 50 day moving average a likely target. Obviously the bullish sentiment has come back into the markets. The doubt of the midterm elections are now out-of-the-way. Stay long until the appearance of reversal signals.