In Today's Update:
1) Stocks rally ahead of midterm election results on much lighter than expected volume. The Dow Jones Industrial Average gained 173.31 or 0.68%, the S&P 500 added 17.14 or 0.63 percent while the Nasdaq 100 closed higher by 47.11 or 0.64% and the Russell 2000 closed higher by 8.59 or 0.55%.
2) Crude Oil Futures continued to slide closing lower by $0.91 or 1.44% while Gold Futures dipped another $4.20 or 0.34%. The Bond market was flat today and the yield on the 10-year treasury note was trading at 3.217%.
3) Blue Wave, Red Wave or no wave at all? That is what the U.S. Equity markets are waiting to find out. The expectation on Wall Street is a House-Senate split which is the scenario most likely to produce a strong rally. Keep an eye on the Equity Futures market tonight and tomorrow morning for an indication of what to expect during tomorrow's trading session.