The window dressing period is now over as I don't believe many funds are brazen enough to try and mark up stocks on the last day of the fiscal year. The seasonally strong period is not over as we still might see monthly inflows early next week.
Everybody is focused on the elections and QEII but there is another very important event next week. On November 2 the Canadian government will rule on whether they will allow BHP to proceed with its hostile bid for Potash. I believe there is a decent chance that the Canadian government rules against the bid. Potash is a greater than $40 billion company and there are a lot of arbs in the stock. If the Canadian government rules against a takeover there will be a lot of selling. That would be a double whammy of more supply and would also hurt sentiment.