DA BEARS

The bears had a rough day today and yesterday (Chicago Bears) as the DJIA closed up about 120 points on the heels of an oversold market, merger Monday and probably a foregone conclusion on the elections (no surprises).

The 2 day RSI on the DJIA has climbed back over 80 while the quotes on the VIX/VXO tandem has drifted back down to the 10 day SMA levels.

Any further ramp in equities will probably give off some sell signals, but I don't expect it to happen until later in the week. The day after a big trend day in the markets is usually choppy, so don't expect much tomorrow unless the exit polls provide fireworks.