Before the week started I had made the comment that the market would consolidate or pull back a bit and then Wednesday continue its move to the upside.
Tuesday I added some stocks for a swing and today I will be looking to do the same if anything triggers. It’s always interesting to see how a plan works out.
The market is about unchanged, however, the Nasdaq is up a bit 15 min after the open. Breadth is slightly positive so I would expect today to be a range day absent news.
On the geopolitical front, things are quiet now. On the political front, Trump is narrowing Clinton’s lead a bit. My thought is the debates will most likely have a substantial influence on the outcome of the race. And in the background, the Wikileaks dump has the potential to affect the race also.
As far as market friendly with Trump or Clinton , realistically I doubt either will have much of an effect on the market short-term. Cuban was on T.V. yesterday saying if Trump wins the market will tank and how he is going to hedge everything if the polls show he has a reasonable chance come November.
I disagree with his analysis. Unless I am missing something there is no reason to think either candidate will tank the market short-term. Long term, however, is a different story.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. 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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