TOMORROW IS THE DAY!

There is little I can write for all are myopically focused on tomorrow.  Regardless of the outcome the country will survive.  Comparatively speaking, 2016 is nothing compared to past elections.  All must remember democracy is an angry visceral process filled with vitriol and animosity.  Democracy settles its differences with words versus guns.

Last night the foreign markets were up.  London was up 1.42%, Paris up 1.65% and Frankfurt up 1.57%.  China was up 0.26%, Japan up 1.61%and Hang Sang up 0.70%.

The Dow should open sharply higher after nine consecutive days of declines following the FBI’s statement that Clinton’s handling of e-mails was not a crime likely boosting her probability of election.

As noted the other day and according to Bespoke Investment Group the has S & P 500 has advanced five days before the vote in 20 of the past 22 presidential election cycles, climbing an average of 1.9% in the run up to elections going back to 1928.

As noted the S & P is down for nine consecutive days. The longest consecutive days in many years, exceeding the consecutive number of decline in the 2008-09 financial crisis.  The S & P is down 1.9% during the past four days.

The 10-year is off 10/32to yield 1.82%.

kent
The views expressed herein are those of Kent Engelke and do not necessarily reflect those of Capitol Securities Management. The information contained herein has been compiled from sources believed to be reliable; however, there is no guarantee of its accuracy or completeness. Any opinions expressed are statements of judgment on this date and are subject to certain risks and uncertainties which could cause actual results to differ materially from those currently anticipated or projected. Any future dividends, interest, yields and event dates listed may be subject to change. An investor cannot invest in an index, and its returns are not indicative of the performance of any specific investment. Past performance is not indicative of future results. The material provided in Daily Market Commentaries or on this website should be used for informational purposes only and in no way should be relied upon for financial advice. Please be sure to consult your own financial advisor when making decisions regarding your financial management. Members of FINRA and SIPC, Capitol Securities Management is a privately owned full-service retail brokerage and investment advisory firm headquartered in Richmond, Virginia. For nearly 30 years, we have been serving the needs of our investors. Today, more than 200 Capitol Securities Management investment professionals and support staff serve approximately 18,000 customer accounts from Southern Florida to the New England coast.