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Markets churn as Election day takes center stage

US index futures largely unchanged from levels hit yesterday near the close.. Most of Europe and Asia is mixed while barely any change in US Dollar index along with TY yields today, after yesterday's 50 point surge in S&P-  Key developments yesterday focused on Transports breaking out to highest levels of the year, while Healthcare made a sharp reversal back higher.  S&P moved back into the former consolidation range, which is a minor positive, yet most of the world and NDX, CCMP, IWM and DJIA remain near key resistance and failed to make any kind of significant technical move-  For now, Its more likely that we see some type of backing and filling post election tomorrow and the ability to hold up near highs or not give back all of yesterday's gains will be key to thinking higher prices will happen in the next 7 weeks into year-end.  So upside should prove difficult to come by in the next 3-5 days.. but specifically for today- 2130 is important.. so over this. we will likely trend up to 2138-40 with 2148-50 being max upside before at least a 1/3 to 1/2 retracement at a minimum of what we've seen in the last 24 hours-  Pre-mkt movers:  ACAD, MOMO, PERI, ENDP, FN, WBAI, IAG, PCLN.. while on the downside-- HTZ, OMF, KND,CVS, DEPO, VRX, NVRO, REN, MT, DHI, BBY-    Let me know if i can answer any questions

This hourly chart puts yesterday's move into perspective-  The larger consolidation/mild downtrend from October hasn't altered because of yesterday's rise, and despite the sharp high breadth move.. momentum has begun to stall a bit in the last 12-18 hoursand further upside should be used to sell ahead of what could prove to be a tight race