NY and SPX volume measures are confirming an impending new high, which is a bit surprising, as they frequently diverge, and previous divergences have nailed a tiny-mini pullback….. but only a bullish confirmation is seen here ….
(chart is daily, as of yesterday’s close)
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Not exactly an awe inspiring breakout. I kinda miss those legendary gap and go days.This is a gap and stutter trying to get the engine running sort of a day.
Republican Senator John Cornyn just told the media that there "may be a tentative tax bill deal today." [hence, pop]
House Majority Leader Kevin McCarthy told GOP members the goal is for the House to vote on the tax bill next Tuesday, Dec. 19
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
The munchkin and his team of 100+ people in the Treasury Department were “working around the clock” on modeling various estimates of the tax plan’s effects.
So yesterday he released their findings: a measly one-page “analysis” of the Senate tax bill — 470 words, including footnotes.
Everyone is pizzed. Here are just four problems: http://www.thefiscaltimes.com/2017/12/1 ... Themselves
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Not sure what to think. That last pop was driven by news so it could easily reverse. Yet we are high enough now to trigger short selling but I don't see it. Therefor, on paper, the high is in and we will sink back into the range as we run out of buy the all time high buyers and do not much until tomorrow after lunch when the Fed will reveal nothing new.