On the evening of Tuesday November 4th, 2008 Barack Obama was elected president
We are now approaching the "Obama Resistance" with the Dow trading 9400ish. It would be an excellent indication of the strength, and validity, of this rally to elevate above 9625. The market strength will finally overwhelm Wall Street's fears about the new administration's policies. A true referendum on the market and, in some sense,Wall Street's comfort with the new administration.