All you here from wall street is bullishness. If the dems take control, thats good it creates grid lock, if the republicans keep control thats good to. Bottom line with these clowns is its all good.
Try to be counter intuitive. Folks like us got short too early at relatively bad prices on the logic that the market would sell-off as sentiment increased over the GOP's probable lose of the House. Obviously in hindsight that was the crowded trade. Shorts were prevalent and then squeezed without mercy. Increasingly though the new consensus is as you state one of bliss at the prospects of a gridlocked Congress. As that sentiment becomes dominant there will be an opportunity for a break. Just as we were the stupid sellers in the 1340's someone else will be the stupid buyers in the 1390's. I guarantee if we polled index traders we'd see a marked increase in bullishness compared to several weeks ago.
Generally, the market has performed better with one party in the White House and the other party controlling Congress. We'll see how it all pans out.
Even with all the problems the Republicans have seen, these guys can still keep control because the Dems don't seem strong enough to take over.