Markets are unchanged mostly about 30 min before the open.
Of note, Financials strong, Oil strong, Metals strong, TLT slightly down. To me looks like a bias to the upside premarket despite the flat indexes.
Watch the first 15 to 30 min to get a clue while monitoring $ADD.
I am almost flat with one trade on right now with a nice gain.
The new health care bill came out and I caution you to stay away from the spin on both sides of the isle. Best to just read it yourself or find an objective news source(almost impossible).
The ones I have found to be as objective as they come is Circa.com or sharylattkisson.com. Both give an unbiased account of what they report. You may not like what they say but it is going to be the best of the news sources these days.
The problem with relying on biased reporting is then it is very difficult to give yourself an accurate read on the current events and how they relate to the markets.
Political wagering is a prime example as I have discussed at length in the past.
But it carries over into everything in one way or another.
I have been searching for some good political wagers but at this point do not see anything new. I pointed out that I felt Trump finishing his first term was a reasonable value wager. I received a call about what I might want to wager on Trump winning in 2020. Looking over the lines I do not see much value at this point in that wager on either side.
However, when the lines come out for the Republican Primaries I would be interested in seeing the lines on the Republicans that been the most outspoken against Trump. Chances are if Trump is still around in 2018 these Republicans will be in for a shock. And that includes Ryan. But again the price is everything on these wagers.
Today If I have time I will be looking at breakouts to the upside. Today looks like a good day for them.
This has been a week from hell for me. Aside from an emergency early in the week, I have a good friend very ill , and also just getting over a bad bout of the flu.
So I may take another break today from trading and get back in earnest Monday morning.
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’s Handicapping Picks