The stock market as measured by the Dow Jones Industrial Average (DIA) or the S&P 500 (SPY) has gained in price by roughly 4% through October. The indexes have been rather stable for the past few years. The key question: Is the market consolidating gains, or is a distribution top forming?
US Election
The outcome of the US election will soon be known. The markets could be poised for a relief rally as concerns over the election fade. The key election outcome might not be what happens at the top of the ticket, but the election of Senators and House of Representative members. One party control could rattle the markets or comfort the markets, as the desire of the top of the ticket might not pass both chambers. No matter what the election outcome, the likelihood of vast sweeping changes appears unlikely at this time.
Interest Rates
Interest rates have…
