Markets are gapping down this morning with QQQ leading the way slightly.
Of note, Oil, financials metals are all up this morning. TLT is down.
This looks positive to me premarket and if you’re a gap fill trader this might be a good day to give that trade a try.
The tax cut war is on now and while you hear that it is going to pass I have my doubts. They will need Dem votes and its anyone’s guess if they even get one.
It probably has a better chance than the health care bill, but that is not saying much.
If the markets get wind of a failure in the tax cut agenda, expect a quick drop. And it could be a substantial one.
I am cutting this short this morning as I am a bit behind the curve. Had a lot of things to do and the open is just 5 min away.
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