The short answer:
The U.S.A used to be a nation of farmers.
The long answer:
Congress chose November because the harvest was over and the weather wouldn't be bad enough to prevent people from traveling. As for Tuesday, people used to have to travel overnight to their polling location. (In 1845, horse was the preferred method of transport.) In an effort to avoid religious days of rest, Congress chose Tuesday, leaving Monday and Wednesday as travel days.
Tuesday was voting (and horse-resting) day.
My conclusion:
So the Federal Reserve & Treasury Secretary has harvested all the financial gains from the world stock markets by giving misleading news and now washing their hands for the handover to a new President elect.Hence the tremendous harvest they have garnered in the Evil month of October are now in their coffers for an early retirement plan.That's their financial planning.
Whereas in the stock market jungle Tuesday is a day of high volatily and big swing before the market find its exact direction in the Mid-Week(Wednesday).I have noted this in the index futures all this while presumably an international standard set by those rogue funds swarming around the glode."Birds of all feathers flock together"
Tracking the Dow on Tuesday 04/11/08 (US PRESIDENTIAL ELECTION DAY)
9:30am:--Hefty 180.0 points gap-up.
Credit markets continue to show improvements. Interbank dollar lending, known as Libor, declined across all terms and the TED Spread is down 20 basis points to 2.22%.
10:30am:--Ascending soldiers.
September factory orders fell 2.5% month-over-month after dropping 4.3% in August. The results were worse than the 0.8% decline that was expected.
11:30am:--Bearish pullback.
Stocks and commodities rally to session highs while the dollar tumbles to session lows.Dallas Fed President Fisher, who has been an inflation hawk, said the market crisis has arrested inflation momentum.
12:30pm:--Bears in control.
In economic news, market participants shrugged off negative factory orders data.
1:30pm:--Shooting Stars.
Crude prices spike higher, now up 11.5% to $70.63 per barrel.
2:30pm:--Bearish engulfing.
Index is pulling back to MAV before another bullish rebound.
3:30pm:--The Saints came marching in.
Commodities rallied 5.3% as the dollar tumbled 1.8% against a basket of world currencies.
The Volatility Index, which is considered the "fear index", declined 11%.
4:00pm:--Hangman & shooting star.
Profit taking might pursue.
The 52 weeks bear pivot is been penetrated and the indicies are aiming for the 52 weeks MAV but along the way obstacles on economic factors will seep in again.