Will We Get Gridlock?

(11/9/22) Midterm elections are behind us, and all that's left to determine is who will control the House and the Senate, and will we get a gridlocked congress, which tends to be better for markets. Historically, post-midterm election markets tend to rally into the year-end. Meanwhile, the bottoms built in September and October have resulted in a rally, albeit not a strong one. The buy-signal on the MACD has performed as expected. Stocks yesterday got above the 50_DMA; markets will have to hold that today, and the next challenge will be tops set previously, just ahead of the FOMC meeting, where the 100-DMA resides also. Looking ahead, expect a bit of a uptick as Thanksgiving draws ear, and then in the first weeks of December, a bit of a softening should occur as mutual funds make their distributions, and then at the end of the year, stocks may do better as mutual funds put their positions back together to close out the year. Stok buyback will continue through the end of the year, as well, providing additional activity supportive of a rally.

Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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