Stock market investors should be thankful October is over. Even though the S&P 500 gained 11 percent last week, it was still down 17 percent for the month. According to the venerable Stock Traders’ Almanac, November has historically been the best-performing month for the S&P 500 since 1950 and the third-best for the Dow Jones Industrial Average. In addition, the end of the election on Tuesday will at least bring the end to some uncertainty. While it’s typically believed the stock market favors Republican victories, according to a Bloomberg report, since 1900 the Dow rose 9.8 percent in the 12 months after the Democratic Party has captured the White House. Only twice did the index drop, after Wilson’s victory in 1912 and Jimmy Carter’s in 1976.

Lind Plus Senior Market Strategist Jeff Friedman said from a technical standpoint, the fact that December S&P futures managed to close above their 20-day moving average at 945 was encouraging, and momentum indicators, the Slow Stochastics and Relative Strength Index (RSI) are turning neutral to bullish for swing traders. However, he said he’d like to see a close above 1070 (two days in a row even better) to turn things around for market bulls. He sees resistance at 984 and 992, with support at 926, the 10-day moving average.

You can join Jeff for his post-election analysis and market outlook in a live webinar on Wednesday, November 5. There is no cost to attend and you can ask Jeff questions via live chat. Register for Friedman’s Futures Forecast.