Major indices up >2.11%. Wow…
Even Trump said before the election that if you vote Democrat, you are voting for a lower stock market. Not today!
The House went to the Democrats. The Senate will remain Republican. So it was a 50/50 split,
However, Pres. Trump spun it as the best case scenario for all, and the major indices are ending the session at >2.11%.
With the memory of the 2016 rally, is there any reason to sell stocks after elections? Nope. Just buy, buy, buy.
Here are the final numbers (all indices are closing near the highs:
- S&P index is closing up 58.22 points or 2.11% at 2813.67
- Nasdaq index is closing up 194 points or 2.64% at 7570
- Dow is up 543 points or 2.12% at 26178
For the S&P index, the price gapped above its 200 day MA at the opening, and moved up to test the 100 day MA (blue line) at 2819.71. Like this time yesterday, tomorrow if the price moves above the 100 day MA, the 2nd day after the election might be like the first. If the price opens lower, traders will be eyeing the lower 200 day MA (at 2763.65) for clues.
Some oversized winners:
- Amazon, +6.86%
- Square, +6.93% (stock is down -5% after close on earnings)
- AMD, +5.61%
- Netflix, +5.36%
- Adobe, 5.35%
- Mastercard, +4.56%
- Caterpillar, +4.45%
- UntiedHealth, +4.16%
- Microsoft, +3.94%
- Intuit, +3.83%
- Alphabet, +3.56%
- Alibaba, up 3.45%
Some losers on the big up day:
- P&G, -0.27%
- GE, -2.60%
- UnderArmout, -1.80%
- Lam Research, -0.25%