Today's stock upswing is unfolding roughly as I looked for it to, giving a more precise idea as to the declining $VIX and improving $SPX market breadth.

Credit markets are concurring with the stock upswing, Treasuries aren't posing a challenge, and the dollar is behaving. Today's rotation into value and away from growth (tech) is going fine as well, yet oil gave up a little of the high ground reached earlier today while gold is standing quite steady.

So far so good – the current moves give an idea of what would be "reasonable" given the importance of the election announcements, making it justified to tighten up the quite wide stop-loss parameter.

Should it be justified, I'll move it lower again (after all, the bull market is intact – see today's regular Stock Trading Alert) but let's get ready for the unimaginable black swan arriving later today, and throwing markets temporarily out of whack - please see Trading position section for details.

Trading position (short-term; futures; our opinion): long positions (100% position size) with stop-loss at 3160 and initial upside target at 3550 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.