As America heads to the polls, Wall Street appears to be hitting the "buy" button.
The S&P 500 is following up a 2.2 percent rally on Monday with a 0.5 percent gain on Tuesday. If the market closes at the level at which it finds itself after three hours of trading, then the market will have logged its best two-session stretch since the post-Brexit bounce at the end of June.
Notably, this two-day bounce follows a nine-session losing streak for the S&P — the longest such run since 1980.
The sharp turnabout appears to be driven by traders' rising perceptions that Hillary Clinton will win the election. Among traders and financial strategists, Donald Trump is widely seen as a wildcard whose victory would lead to more uncertainty for the market.
Still, some say that the initial move should be faded, whatever it happens to be.
"A Hillary Clinton win gets you a slam dunk rally to be sold, a Trump win gets you a 10-15 percent plunge which should be bought," Larry McDonald of ACG Analytics wrote in a Tuesday note.