At the time I am writing this article, Comey is testifying before the Senate "Intelligence Committee," (an obvious oxymoron). Although stocks are bouncing around of of every word out of Comey's mouth, stocks appear ready to move higher.
Let's look at several market dynamics which point to stocks rising in the short term.
- Cash is moving OUT of bonds.
- The "fear gauge" is falling.
- Crude oil is stabilizing, (after yesterdays plunge).
- The US Dollar is stabilizing.
- The Financial Sector is gaining strength.
- Comey, so far, has said NOTHING which was not already public knowledge. (No surprises).
FOR MY LIONS..
What this tells me (at this time) is the stock market appears ready to make yet new all time highs very soon., so let's capitalize on this.
*My summation DOES NOT mean we shouldn't be cautions and not hedge our trades!
Gregory Mannarino