Stock indexes little changed

There hasn’t been much to report going into the election. The session today was very choppy, but in a very tight range. The talking heads on cable kept saying how the markets have calmed down. I guess they are just looking at the net change for the day, and not looking at the quick and abrupt changes of direction. I would say it was more a tug of war than calm. Volume was light. It seems the markets have discounted an Obama victory. If so there might be a relief rally. If a miracle happens and McCain can upset the polls, perhaps a larger rally will occur. Prices are generally stuck at the longer moving average, with downtrend intact and short term momentum overbought but still pointing up. I’ll update with charts as soon as there is something to report.