Congress voted an 11th Hour Budget and Debt-Limit increase deal ending the stand-off….Until the next time…continuing saga….(DEFCON 5) Back to the trading business…. Prior Day High at 1717.00 will be necessary to overcome for higher prices…Sellers filled every buyer into … Continue reading
The Budget and Debt-Limit talks has reached the point of an outright “showdown” that can be analogous to the famous gunfight at “OK Corral”. One side will be left standing in the end. As the World holds its breath from … Continue reading
Markets remain optimistic that a deal will be agreed upon, but still a bit edgy. Markets opened lower yesterday as expectations of a weekend deal fell apart, only to rally back to notch new highs as word spread that Senate … Continue reading
Markets had high expectations of a weekend deal between lawmakers which has not materialized…I guess it was “to good to be true”. As such overnight trade has price down 13 handles anticipating a gap down pit session open. Markets completed … Continue reading
Price made a nice recovery jumping +47 S&P handles on reports that there actually may be some negotiations on CR and Debt-Limit. Markets welcomed that news and responded in-kind. So far both sides have agreed to talk…or perhaps “agreed to … Continue reading
Mkts were looking into the “abyss” yesterday with sharp sell-off down to 1640 level which was the “last chance retracement” level. If the market did not find support at 1640, then odds increased for a test of August lows. Buyers … Continue reading
As Washington continues to dig their heals in deeper and the shutdown continues with the debt-ceiling issue looming, Markets have become even more edgy sending the VIX index to above 20…not seen since last June. We will now raise the … Continue reading
The recent cycle has been buying the morning session weakness…pump up price for midday…then dump into closing bell when no “new buying” appeared…Traders have not been willing to take any overnight risk to positions and as such it seems everyone … Continue reading
As the Gov’t Shutdown continues and enters its next escalation stage, the Markets are getting a bit more edgy, but no real panic. Should the stalemate enter “DefCon-3” then markets may respond more negatively. Overnight trade as of this update … Continue reading
Weakness persists as selling has been methodical and controlled…Given the current stalemate in Washington, Mr. Market has taken it all in stride. There is no Jobs Report this Friday, courtesy of the shutdown, so traders will need to find another … Continue reading