tom mcclellan is editor of "the mcclellan market report" for where we might be going from here. you're saying the post-election honeymoon period might be just about over. what does that imfully in terms of what kind of downside we might be looking at or what might be needed to give the market some life in january? >> well, when you have an election of a brand-new president from a different party than the party that was in before, investors attach all sorts of hope to the new guy and think he's going to solve whatever problems they can imagine so they're joyful and happy about it and bid up stock prices because of that joy. we're seeing super high readings on all the sentiment indicators showing everybody is excited and happy and complacent about the future and he'll solve all the problems. then usually after the new guy's been in office for an entire week and he hasn't solved everything already, people get down hearted and start to sell. when you see this pattern over and over, when you can average the patterns together from market's behavior, you see there's a peak law enforcem

we'll hear from the editor of mcclellan, tom mcclellan up next. >>> got a record high for stocks thising off that huge rally week of last week. question is, will it continue into the fed announcement on wednesday? joining us this morning tom mcclellan editor of the mcclellan market report and joining us at post nine co-head of equities and chief market strategist at canter. let's start with this wednesday meeting and announcement. is it going to mark some change in tone? >> i think it might. there are two things people are talking about, right? there's this meeting and then there's the inauguration. some are talking about a rally through the inauguration and i've been talking a little more in the context of this particular meeting. because my philosophy, my concept is that really fiscal policy is not a great substitute for monetary policy and conditions are tightening. and this meeting will sort of be that crystallizing moment around the fact conditions are continuing to tighten. >> right. do they need to make some overt reference to what many people believe, that is we're about to po

but tom mcclellan did. ahead on "closing bell" we will talk to him about what he thinks will happen between now and inauguration. >>> trump adviser, friend, possible energy secretary harold hamm is with us. he will be ringing the closing bell today. we will get his take on the trump rally and his possible role in the trump cabinet coming up. >>> the rally continues on wall street. we have about 18 minutes left in the trading session here. the dow is up 76 points, was up 115. any positive close is a record for the dow, for the s&p and the russell. the nasdaq is joining the party, as well, up enough to put it also in record territory. >> let's get to the nasdaq for more on what is moving to record levels with bertha coombs. >> the small caps helped the nasdaq move up. the nasdaq 100 record back in october. some big cap tech stocks have continues to lag here into december. today the big caps that are really moving things higher include the consumer stocks, costco, sears with better than expected elements of th

might get a chance for revenge. 15 years later tom brady nearly lost his 17-point lead against the ravens last night. play of the game new england's shea mcclellancks the field goal. journals the center. blocks just continue ticker -- jumps the center, blocks justin tucker' field go. three-point game with six minutes to go. brady threw for 406 yards and the patriots squeak it out 30- 23. he had a 79-yard throw for a touchdown. >>> jeff fisher is out as the rams head coach fired after l.a. lost eight of the last nine. the hot rumor going around social media is whether or not jim harbaugh might be interested. >> personally, i think that's a bunch of crap. >> and speaking of a bunch of crap, the website pro football talk is refuting the report that the 49ers' ceo jed york could be stripped of his role by his parents. jason san francisco cbs reported sunday that john and denise york would take a larger role in make football decisions. jeremy newberry played for dr. york a decade ago and was glad that he turned the team over to his son. >> he doesn't understand anything about football. he asked how come i didn't play both ways a best lineman. how com

might get a chance for revenge. 15 years later tom brady nearly lost his 17-point lead against the ravens last night. play of the game new england's shea mcclellanlocks the field goal. three-point game, a 79-yard touchdown. brady threw for 406 yards and the patriots squeak it out 30- 23. >>> jeff fisher is out as the rams head coach fired after l.a. lost eight of the last nine. the hot rumor going around social media is whether or not jim harbaugh might be interested. >> personally think that's a bunch of crap. >> and speaking of a bunch of crap, the website pro football talk is refuting the report that the 49ers' ceo jed york could be stripped of his role by his parents. jason san francisco cbs reported sunday that john and denise york would take a larger role in make football decisions. jeremy newberry played for dr. york a decade ago and was glad that he turned the team over to his son. >> he doesn't understand anything about football. he asked how come i didn't play both ways a best lineman. how come we didn't play offense? >> this is dr. york asking you that? >> posing the question like how come you don't play that side of the ball? and it