Good morning traders. Midterm election results are out later today and FOMC statement tomorrow. There are two main scenarios I am looking for today. The first and what would be the more usual, calls for a quiet trading day as the market waits for news. The second, less likely scenario would be a move to the upside in anticipation of the headlines. Market holding above 119.75 SPY should lead to 120.70. As I wrote yesterday, we are entering an area of resistance in the market as we approach April’s highs. Keep this in mind over the next couple of weeks.

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SPY  LEVELS

120.70

119.75

118.80

117.90