Looks like a classic buy the rumor sell the news...Monday huge up day and gapped up 5 points (ES) from Fridays close, today the smart money began taking their postions off midday, all that's left holding is the suckers. Tomorrow and towards the end of the week/early next will see that gap filled. On the ES it should be at about 1268 or so.
I think we get democrats in the house and republicans holding onto the senate. As for a market rally, who knows, I think the rally these last 2 days has been on talk of a gridlocked government. If by chance the democrats take both house and senate look for a broad based sell-off.