Shutdown Monday:) Senate votes again in 3 hours. My guess is the shutdown continues and we get a big yawn from the stock market.
I have two trades going. FB and DUK. Both are mean reversion trades.
I will be looking for some new trades as my guess is this shutdown will not last the week.
But the news of the day today is the shutdown. My guess is the vote in 3 hours will not change the status quo. So the shutdown and posturing will continue.
How the market reacts remains to be seen. But so far its a big yawn:)
Markets are slightly lower with the Nasdaq unchanged 15 min before the open.
Financials, U.S. dollar weak. Metals and biotech strong.
Overall I would say neutral right now as we head into the open.
I will forgo my usual tirade on the dysfunction in D.C. mostly because I have still some work to do before the open. But watch the 9:00 vote in the Senate. If it happens to open the government, the market will skyrocket to the upside. I doubt we will see much downside if the status quo remains the same.
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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