Impeachment is still all the buzz.
The markets have thus far shrugged it off but that may be changing in the weeks ahead. The S&P 500 continues to resist out below 3025.
The pension crisis and Bond bubble also loom large but get very little press.
The deal with China seems to be stalled.
The continued Brexit uncertainty also should weigh on the market. So while in the longer term I continue to expect the markets to move higher, we may see another pullback from these highs as we sort through this political mess.
The underlying economy remains strong but there are some clouds on the horizon.
Bottom line is markets hate uncertainty, and that is the one thing that seems to be rising daily right now.
Action: So as usual look to buy these dips but don’t be too quick to try and catch a falling knife. Wait for a solid reversal signal on the daily chart like a 1-2-3 Bottom formation before buying into this dip. Do not be panicked into selling should things get wild.
Note to the Patriots reading, we are fine and 45 isn’t going anywhere. They don’t and won’t have the votes.