Buy the Rumor, Buy the News; Buy All the Pies There's No Surprise

A particularly optimistic rally this week (although some would argue it is merely "chasing" longs higher) is all the more impressive when we consider the expected-but-still-in-limbo passage of an imminent Stimulus Deal and/or lower odds of a contested election in a few weeks, not to mention a looming new earnings season next week amid a second wave of the CoronaVirus threat. 

Even with sports betting plays like DKNG PENN finally cracking a bit as the second wave threat hits various NFL teams and players, adversely affecting the scheduled games, most of the rest of the market is just just find and dandy to be gobbled up by hungry bulls just like the assorted flavors of the old-fashioned Hostess pies, above. And just as with those pies, it need not matter the flavor, per se, just so long as they are a sweet treat. In this case, the "sweet treat" is any stock which would benefit in any way, shape, or form from another Stimulus. 

While that is all fine and great, there may very well be a hang-up in the Senate if there are not enough votes, which I suspect is a distinct possibility for a variety of political reasons. 

As far as new ideas Dynatrace looks to be a coiled software yet to break higher. Note the compressed price action on the daily chart, below. 

Overall, bulls are buying all the pies but they had best consider either, 1) A "sell the news" reaction by stocks if the Stimulus is actually passed given how much the "rumor" has been bought up, or 2) That not enough Senate votes causes weekend turmoil in markets come Sunday night futures.