Is body slamming the press by our politicians going to catch on??? How will this affect the markets???

An hour before the open and the markets are down slightly with the exception of IWM which is off 1/3%.

Small caps have not participated in this rally. Some say that is a warning sigh some say not so. Myself, I prefer to look at the Nasdaq and as long as it leads the SP500 I look at the markets being positive.

The spread right now is at the highest it has been for performance in awhile.

I am watching this as a trigger for whatever correction is coming. That is my main indicator for a reversal off these highs of any substance.

I am not sure how I will trade it yet, but I plan on trading it when it occurs.

I would prefer puts but unfortunately, it is hard to find options that are not overpriced, especially when you are wanting to make a trade.

So most likely I will be looking at a 2x bear SP ETF.

Of note this morning, the metals are up over .5%, Financials are off 1/5% TLT is plus about 1/3%.

I view this is a slightly negative bias for the trading day.

Nothing has changed at home or abroad of any significance. Just more insanity which I discussed at some length in my last to market update posts. I will not bore you rehashing everything this morning.

Of interest, the Montana GOP House candidate ran away with the special election for the House seat. What made that interesting has he had an altercation with a reporter the night before the election, allegedly slamming the reporter to the ground.

Post-election polling indicated that it was taken positively by the voters:) Weird times we live in.

An interesting read this morning for you:

More of the same for me today depending on how the first 15 to 30 min shapes up for the market.

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


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