It was a late night celebrating the cessation of 47 years of personal frustration with the Cubbies (I watched every game as a kid in 1969, still have the mug with the names Ron Santo, Don Kessinger, Glenn Beckert, Billy Williams, Jim Hickman, Randy Hundley, and of course, Ernie Banks emblazoned on it, and still to this day feel the pain of that season - as well as every season since then until now) so I'll keep this brief and to the point this morning.

Given that (a) there are still a minimum of three trading days until the results election will be known and (b) the election and the associated risks of a surprise outcome seem to be a focal point here, there doesn't seem to be any reason for traders to make any big moves at this time.

However, it does look like Wall Street is celebrating the Cubbies by not declining in the early going this morning.

But as we've seen for more than a month now, most intraday rallies have been met with selling. As such, the bulls will need to do more than stop the bleeding in order to get anybody's attention here.

From a chart perspective, things definitely are not looking good at the present time.

S&P 500 - Daily

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We've got a downwardly sloping channel going on the chart and a clear break of the important support zone at 2120 on the S&P 500. And it appears that the next stop might be the 200-day which currently resides at 2080ish.

The good news is that stocks are now oversold from both a short- and intermediate-term basis, sentiment is now downright ugly, and the seasonal tendencies have become a tailwind for the bulls going forward.

So, assuming there is no BREXIT-like ...

The traditional fall swoon appears to have taken hold of the stock market over the past week as "what if" fears regarding the outcome of the Presidential election are beginning to run rampant. Although reports indicate that Hillary Clinton's path ...

As the saying goes, there are three kinds of lies. Lies, damned lies, and statistics.

This age-old cliché is especially true in this business as investors of all shapes and sizes regularly use statistics to prove their point and "talk ...

To be sure, it has been a long slog in the stock market for the past three months. In essence, stocks rallied hard on expectations of further monetary stimulus from the folks at the Bank of England, the European Central ...

Going through the myriad of indicators and models I review each week, I was surprised to find that my primary economic model (which is developed and maintained by Ned Davis Research) had slipped from neutral to moderately negative this week. ...

Good Monday morning and welcome back. Let's once again start the week off by reviewing the state of our major indicators and models.

The first step is a review of the price/trend of the market. Here's my current take on ...

The action remained "sloppy" on Thursday as once again, the early gains were met with selling. And if one looks closely at the charts, yesterday marked the sixteenth consecutive session where at least some sort of significant intraday selling took ...

One of the keys to being successful in the stock market game is having the ability to remain objective. In short, it is critical to focus on what "is" happening in the market as opposed to what you think "should" ...

The recent trend of intraday strength being met with selling continued yesterday. As an indication that the action remains sloppy and conflicted, I present the fact that stocks have now flip-flopped between gains and losses on a closing basis for ...

With the focal point(s) of the stock market appearing to move around a fair amount lately, it is important to keep up with all the issues. By my count there are six worries/concerns at this time including the dollar, rates, ...

Good morning and welcome back. Since the focus has been jumping around a bit lately, it will be interesting to see which issues catch the interest of traders on this fine Monday morning. But first, let's stay disciplined and start ...

Don't you just love this game? Or, after the action of the last couple of days, perhaps I should put that another way... Doesn't this game drive you absolutely batty at times?

You see, no sooner had I tapped out ...