Markets are up slightly premarket with QQQ leading the way. Of note, Oil strong, and most else hovering around the 0 mark
Not much to get a clue from. The market is overbought in the short term. Depending on the breath this morning I have 2 stocks I am keeping a watch on. CALA for a mean reversion bounce and CSX for a continuation of the upward correction.
Again its going to depend on how the market looks the first 15 min of trading.
Some news to digest is that Sessions is most like going to be gone as the AG. What affect this has on the markets is unknown but one thing is certain it will cause an outrage by many Republicans. Sessions with over 30 years in Congress will not sit lightly with the establishment Republicans.
So expect threats from Congress, along with accusations by the Democrats(despite the fact they have been screaming for his resignation).
Just another day in paradise for Congress. I assume Trump has an acting AG in mind as hell will freeze over before Congress approves an AG that is going to be tough minded and prone to end this Russian special counsel.
The possibility of a Consitutional crisis gets closer.
But the markets do not care one bit. So far:)
Also health care is back on the table, as Trump has put the hammer down on Congress. I doubt though it will do any good. Afterall Congress has a 15% approval rating to protect. Putin is more popular than our Congress these days.
And if you just look at the Congressional leaders they are even lower in their approval rating.
Meanwhile the American people have to watch this chaos with many hurting and needing relief. They will have to wait, Congress has bigger fish to fry.
Be cautious as the madness in DC is not going to end anytime soon.
I will send out any trades I make today on my private twitter feed.
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