In a day of turmoil the unlikely struck in many guises; from the Trump election, to the election pre-maket sell off, to the huge accumulation rally delivering new breakouts - it was 6-months of activity in a single day! Kicking off things is the S&P breakout. Today's volume was massive. With today's gain it only has to negotiate the tight range from July/August before new all-tie highs are in play. Today's gain brought fresh 'buys' to Stochastics, +DI/-DI, and MACD.

There was some follow through to yesterday's buying, but resistance wasn't breached in newly defined channels and wedges. Will there be a 'sell the news' event tomorrow once the election is announced? The S&P tagged its 50-day MA before it came back to rest under declining channel. Volume dropped for a second day, but there was a MACD trigger 'buy'.

Or so the market thinks. Solid gains all around would suggest marker participants have banked a Clinton win and are looking to pick up value. The question is whether narrow trading from July or August is really a barrier or just a symptom of a summer lull. The S&P is back at the rising wedge, and resistance at 2,130. Also note the development of a new downward channel. Watch for a stall out on a tag of channel resistance.

Friday delivered the tentative tests of the 200-day MA that markets had teased since breaking down from rising wedges. This has left markets in a good place for bulls to exploit on Monday. The S&P finished at the low of the day, but these 'inverse hammers' are typically viewed as bullish since while the S&P was unable to hang on to intraday gains by the close of business, there was no significant loss off the open price (i.e. no follow through down). Assuming there is no pre-gap lower on Monday (and even if there is, a buy just before the open might prove tempting), bulls could find themselves in a good position to trade into a probable Clinton victory.