Futures took a roller coaster ride overnight as Dow futures jumped 100 points just after the conclusion of the first presidential race. However, by the open futures had erased its gains and we opened in negative territory. Sellers really never found any traction and we would see the market power forward. Volume was higher across the board in a show of support for this uptrend. It is clear the Nasdaq and Russell 2000 remain the leading indexes while the S&P 500 remains below its 50 day moving average. We will continue to focus on our high probability trades. There is no need to fight the trend. Today was a good solid day following Monday’s losses.

Whether or not the market rose because of the debate is really unimportant. It could be for a variety of reasons. We had our exits in place if this market was going to go against us. We still have a mixed market with the Dow, S&P 500, and NYSE composite still below their respective 50 day moving averages. Until we see these indexes prove their worth we will remain neutral. Strength is something we want to be involved with and right now it is with the Nasdaq and Russell 2000.

This market is very resilient and continues to push higher. We have plenty of stocks moving in our favor. Stick with the plan.