Hopes Prevail

The major indexes rallied right out of the gate yesterday and never looked back. Hopes prevailed that the Fed will implement its program today to boost the economy as Wall Street in general bet on a Republican win.

By the time you read this, the votes will all have been counted and the results and potential impact will be analyzed. The Fed is certain to act in some form, even if the action is less than anticipated, there should be some type of economic benefit—at least that is the hope right now.

In view of the above, the dollar dropped as long term interest rates are expected to fall. This pushed up prices of metals, along with oil and energy. Despite this broad rally, volume was extremely light, but that should change once the Fed has taken the mystery out of its intentions.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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