The markets are gaping slightly up this morning. Of note, USO is +3.42%, and GLD and SLB are both up strong. Financials is also on the plus side.
Premarket indicates to me a strong bias to the upside today. Let’s see how things shape up.
I have a few positions on for today and am looking this morning to aggressively get into some day trades.
It is almost not worth mentioning the political front at home. Best to turn off the news until this insanity subsides. Right now, I cannot remember a time that a sitting president has been under attack with such venom from the opposition party and some in his own party.
Will the voters stick by this president? If they do, then you will see a major shift in the makeup of the congress the next 2 elections. Democrats will be all but finished, Never Trumpers will be long gone.
But if the voters shift the U.S. will be in unchartered territory in my judgment. As elections will not mean a thing anymore and politicized agencies of the government including the intelligence agencies will have won the day.
From an outside looking in it is an interesting dynamic at work. From an insider who has lived in the U.S. for some 70 years now, it’s a frightening unknown.
Will the markets view it that way? If the sentiment shifts against Trump expect the markets to be in turmoil. So far, Rasmussen has Trump very steady despite what the other polls are saying. That would be the one I would be tracking if I were following this:)
Your bankroll might depend on it!
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ
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