Transcript
Hello, everybody, welcome to election Tuesday. Today is a green shirt day, which I think is perfect. There’s so much anxiety that’s happening on both sides of the spectrum, about this election, who’s going to be in the White House, what’s going to happen with Congress? You know, we have what looks like historic turnout for the vote. And there’s lots of anxiety.
So I’d like to set your mind at ease a little bit about what’s happening with the market, because today was a really big day, and very, very important. The S&P 500 was up 1.8%. But more importantly, and yesterday, I talked about some overhead resistance, you know, it was kind of stopping us from going higher, we jumped right through that. And so resistance can now become support. So we have that as support. And then we also have the big support that held us up, you know, last week, which is really important.
So I think things are very strong. We saw a tremendous amount of green and very big numbers today. So like Smart Mobility was up 3.8%. Petcare, you know, up 2.8%. Cybersecurity up 2.4%. I mean, it was very, very strong, lots of movement. The market is signaling, at least at the moment that they think things are going to turn out. Okay, as far as this election goes, in terms of how it’s going to, you know, resolve itself and what have you.
So, I think, you know, I spent the weekend looking at the trends and the long term trends across. So many of these pieces are so powerfully up right now, the long term trend for the S&P 500, for these different targeted indexes. It’s doing really, really well now we’ve had, you know, a couple poor months here was September and October, but really, really good otherwise, altogether. And I think those two months are setting up a base. And if we can break out of that base, we will basically be able to use that as major support going forward.
So again, I you know, focus on the election and what’s going to happen here, but rest assured that the market is doing really well right now. It is not falling apart, like a lot of people thought it would at least so far. There might be some rockiness ahead, but I think the overall trend is going to be up. The average S&P 500 gain in the three months after the election was 4.8% for the last 10 elections. Okay, so that’s important. We’ll hope that something like that transpires here also. So, let’s look forward to see what’s going to happen tomorrow. We’ll know some more about the results, and look forward to talking to you then thank you very much.