Day 2…2017 a continuation of the rally??? We will see!!!

Day 2 of 2017 and no worries. The Stock Market is gapping up again today a small amount just 15 min before the open.

I have exited my Mean reversion trade in SPY at the close yesterday. Typically a big move on the day triggers an exit.

I still have a basket of stocks including GLD which keeps looking better and better as it is up another .5% this morning in premarket activity.

Things have quieted down but there is always fireworks the first day Congress is session. You might know the first thing about the Republican’s agenda was to weaken the ethics committee!

Whoever dreamt that move up in this climate had to have rocks in their head. But Trump got wind of the impending GOP unforced error and got Congress to reverse course. Might be a harbinger of good things to come from the White House. We will see:)

Other than that it is the usual bickering with Schumer paying lip service to being an obstructionist. And commenting that Trump has to stop tweeting! You just have to shake your head.

A party that has been devasted the last 8 years has learned nothing at all.

One final comment is the NAACP is now doing a sit-in to show their objection to Sessions for AG. This is a real mystery to me as I have researched Sessions and find him being very pro civil rights in the past.

But all you need to know is the current NAACP supported Justice Clarence Thomas not being put into the Smithsonian. That pretty much says it all about the bias that organization has become. And it is sad. An organization that important being consumed by the pettiness of politics.

I got off on a tangent this morning but I can justify it as any unrest or disagreement adds to the volatility the markets might be exposed to. Does that sound good:)

Back to the markets for now

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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