Traders have been waiting for weeks for the Big Election as a pivotal point in the markets.
If by chance a mystical genie had told you two days ago that the Republicans would recapture control of the House in the biggest turnover since 1948, you'd probably have spent every penny buying index calls on this amazingly bullish news.
Well, at 2:30 this morning, I woke up to look at the markets. The /ES was unchanged. The /TF was unchanged. The /NQ was unchanged. I don't mean they were muted. I mean the net change of all three was +0.00. I have never seen that before.
So much for the fireworks. It would be doubly amusing if QE2 produced little more than a bean fart, once the day is through.
