If Kavanaugh gets confirmed this weekend, will there be an affect on the Stock Market? My thoughts

The Stock Market is taking a breather this morning with all indexes in the red premarket.
 
TLT is off sharply. Financials and metals are positive.
 
I would view this as a Neutral to slightly positive pre-market bias which means a gap fill trade would be reasonable this morning.
 
Now, if your trading Gap fills you have to have a method. Both, on your entry and your exit. There are many great sources for learning the best ways to trade these. Do a little research before you jump into it.
 
At long last the Kavanaugh debacle is coming to an end, with confirmation looking likely Saturday or Sunday.
 
The questions that will remail is:
 
1. Will the politicians finally leave this man and his family along
Not a chance
 
2. How much civil unrest will be triggered by his confirmation?
My hint is to stay away from demonstrations
 
3. When will the U.S. recover from this self-induced spiral
Will be a long long time
 
The markets have been making new highs, but with the threat of violence over the weekend, you might want to hedge a bit going into Monday.
 
No need to overdo it, but, better to be a bit cautious right now if you have a lot of your funds in the Stock Market.
 
On the international front, things are cooling down a bit. N. Korea seems to be back on track. The White House pulled off a successful renegotiation of NAFTA.
 
This Canada Mexico agreement is as big for the U.S. economy as the cutting of regulations and tax cuts. It might take some time to kick in but make no mistake it will be a big boost.
 
The only question is whether Congress will ratify it. With the current makeup of the Senate, I would say not a chance unless they do away with the 60 vote fule. It will be the same old thing, Democrats all be voting no since the vote will be taking place after the midterms.
 
Then there will be no incentive to be reasonable again. Not that the midterms have changed anything.
 
Another bit of news that few are talking about right now is a press conference coming up at 6:30 A.M. from the DOJ regarding National Security.
 
“The Department of Justice led by Rod Rosenstein will hold a press conference on Thursday morning at 9:30 AM Eastern. “
 
There is a lot of speculation on this, but, since the stock market will be open, I would suggest listening to see what they have to say. The content of the press conference is being kept secret.
 
Technically the stock market is a bit overnight in the short term. But, that does not mean a lot in a bull market. Watch to see how the market reacts to the news. That is one of the best clues.

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

RickJ’s Handicapping Picks

https://rickjshandicappingpicks.com/investing

Skype: Ricca

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt
Rickj's Handicapping Picks
Sign up now for our  newsletter. Includes handicapping tips

NFL Plays Last season was the best in 20 Years!!! MLB we are on track for back to back 17 unit seasons.

RickJ's Handicapping Picks  The latest in positive EV handicapping Techniques Overnight Plays in MLB are sent out around 3 to 4 PM PST the day before Come join us for a fun and profitable Pro Sports season!!!  
Sign up now  for a fun and exciting football season
Close

Positive EV Handicapping


Do you know the important clues that help determine which side has +EV?
 
  • Learn about Reverse Line Moves and how they apply to each sport
  • Learn about being a contrarian and using public % numbers to get an edge
  • Learn about the seasons within a season that all sports have
  • Learn key numbers in all sports

Sign up to get updates that will help you with your sports handicapping!
 
SUBSCRIBE
close-link