Very late start this morning. So I am going to make this brief.
Markets are up a little this morning with not much very unusual premarket. A boring opening:)
Typically April tends to be a positive month historically. We are a bit oversold but not by much.
I am down to 4 positions but am looking to add a few on some good setups. Both medium term and very short term. Although, the setups are not easy to find right now, at least by my methods.
This month is the debt ceiling issue. Until that is resolved I expect some volatility in the markets. While Schumer keeps talking about closing down the government McConnell talks about working out a solution. We will see how that works out.
The only other issue of significance that I have not considered how it might affect the markets is the revelations now that the Obama administration was spying on Trump pre-election and after the election.
This is rapidly gaining steam while in addition rapidly becoming an accepted fact. How it ultimately pans out, it still up in the air. It is a very hot political issue and if it breaks wide open I suspect will cause some volatility in the markets. The next two weeks should show us where that is going.
That’s it for this 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
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