Stocks Higher into Final Hour on Election Optimism, Oil Bounce, Yen Weakness, Energy/Utility Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: About Even
  

• Sector Performance: Mixed
  

• Volume: Slightly Below Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 14.50 -1.95%

• Euro/Yen Carry Return Index 149.48 +.42%

• Emerging Markets Currency Volatility(VXY) 8.11 +1.76%

• S&P 500 Implied Correlation 50.02 -6.47%

• ISE Sentiment Index 77.0 -33.62%

• Total Put/Call .87 -2.25%

• NYSE Arms .71 -46.32% 

Credit Investor Angst:

• North American Investment Grade CDS Index 64.99 -.65%

• European Financial Sector CDS Index 67.75 -2.56%

• Western Europe Sovereign Debt CDS Index 32.30 -.19%
• Asia Pacific Sovereign Debt CDS Index 63.30 -1.14%

• Emerging Market CDS Index 256.18 +1.29%

• China Blended Corporate Spread Index 322.95 +.84%
• 2-Year Swap Spread 21.25 +.75 basis point

• TED Spread 21.25 -1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -11.0 unch.

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 182.0 unch.

• China Import Iron Ore Spot $76.46/Metric Tonne -1.99%

• Citi US Economic Surprise Index 15.20 -1.2 points
• Citi Eurozone Economic Surprise Index -29.40 -1.4 points

• Citi Emerging Markets Economic Surprise Index -14.90 -.2 point

• 10-Year TIPS Spread 1.93 +1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating +157 open in Japan

• DAX Futures: Indicating -5 open in Germany

Portfolio: 

• Slightly Higher: On gains in my retail/medical sector longs and emerging markets shorts

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 25% Net Long