Markets Close Up On Election Rally

Well after a little mid-afternoon shake up, the markets seemed to rally strong into the close. I guess everyone is happy for the election to be over? I am still very determined that things will fall later this week after we all realize that there is still horrible economic conditions. Take a look at the DOW. It has shown strength for nearly 5 straight days, which should tapper back to at least one big down day. I am looking for the DOW to make its way back to the 8,500 level which is the mid-point of the huge bullish engulfing candle.



MMM still looks like a great short. Even with the strong buying today, this stock stopped dead at its Fib retracement level. Moreover, the volume on the way up has been pathetic. I think this will definitely be back at $57.50 level or lower during the next downturn.



WYNN was a great call yesterday. I hope everyone got in when I made the post (you would have made a could hundred on this trade alone). Again, with all the buying today, WYNN was only up $0.04 on the day! That's horrible for such a great day in the markets. This will be down to the $40-$35 level more than likely.



Tonight we will finally get the results of the election. Regardless of who is elected, the next president will undoubtedly face great challenges. I hope everyone got out and voted today....See everyone tomorrow!