I Blame You!

Stocks seemed to be making a statement Friday with what appeared to be a clear break above the 100 day moving average at 2144. On Tuesday it fell back just below the mark.

I know who to blame for this...You!

You...as in the American public who are still near a deadlocked decision on the Presidential Election. Yes, it looked like Clinton was taking the lead over Trump after the debates and hot mic revelations. Yet now the gap is closing again.

This is most evident in the key battleground states. Trump now has the lead again in Ohio. Florida is moving back towards even after Clinton seemed to have taken a decisive lead.

I don't care who you vote for. I just beg you to make up your mind and keep it that way. This will give investors greater confidence in the outcome allowing stocks to get back on a bullish trajectory now.

And if this clarity does not emerge, then expect more range bound action until the day after elections on Wednesday November 9th.

Best,

Steve Reitmeister

Executive Vice President, Zacks Investment Research

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