Citadel Securities: US stocks set to rally after midterms

The notable tension here is between retail accumulation — a long unbroken buying streak — and systematic funds sitting at their lightest positioning since late March. Rubner is effectively arguing that the marginal seller is exhausted and buybacks plus seasonality do the rest, which makes the setup a positioning story rather than a fundamentals one. That matters most for flows-sensitive parts of the market, where thin systematic exposure can amplify any move once uncertainty clears. Whether retail keeps absorbing supply and systematic funds actually re-risk is the open question; light positioning cuts both ways if the post-election mood sours.