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NQ will be better than ES
on ESZ8 there's still an open gap up around 1000 that needs filling. However, there's a thinly traded range between 900 and 920 that could be attractive too (the level of the 10/24 opening gap, which did fill on the way up, but which is got just a push up through that level and no backing and filling since). With the election tomorrow, it's a tough call. Presidential futures mkt now pricing in a 90% probability of an Obama victory. So it's unclear whether that will offer any surprise (buying or selling pressure). A McCain surprise victory would, I suspect be greeted by a rally in stocks. (I'm an Obama supporter, so no spin in that comment, just the thought that lower cap gains would be viewed as bullish for mkt in a McCain administration, relative to an Obama admin). Pretty murky out there...but that gap up to 1K still looks like it's got "unfinished bidneth" written all over it.
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