The markets are acting like the general public... split

Technical Analysis

Author: Greg Michalowski | forex

Trump presser a unique experience...

Compared to his last presser, this one brought us all back to the pre-election.  There was Hillary, and Obama, and disaster.  Then there was the promises....The wall, the bringing back jobs, the unfair trade deals, etc.  There was lots on Gen Flynn and Russia.  That was so Apprentice-esque....

(my mind wanders....)
"Pence-y... Did Gen. Flynn tell you he talked to the Russians?"
"No sir."
"Did he necessarily do anything wrong though. Isn't it his job to talk with them?"
"I guess so sir."
"How did the press find out about the call?"
"I don't know sir. Maybe a leak?"
"HMMM.  He lied to you though?"
"I guess sir"
"Well, I have made my decision,.  Ivanka?  Can you have all my people come back in the room please. Isn't she wonderful?"
(Enter room)
"General Flynn, although you did nothing wrong., your mistake was the press found out about your call.  You put me in a difficult situation, but I can't fire Mike BUT I can blame the press for the leak. That is a good thing.  I don't why people think bashing the press is such a bad thing. I think it makes perfect sense to bash the press every day.   So I have no choice. You're fired."
  
Anyway, it was good stuff and I can imagine that there were Trump supporters who thought it was great. Trump haters who are livid and want him impeached immediately (somehow) and yet others who are simply shaking their heads in disbelief.  

No matter what bucket you are in, it was a "Honey, you gotta see this" moment.  Even Pres Trump did not want it to end (he said "last question", then took one more because he was enjoying himself so much).

There were comments shared on FXL that said "sell the S&P" (impeacher or head shaker crowd).  There were others who said "he did GREAT" (supporter crowd).  

The dollar would take it's clues from the stocks (and bonds/gold too).

So what has happened?

Limited moves in the stock market. The S&P and Nasdaq are nearly unchanged from the start of the presser.  The dollar is a little lower.  Bonds are little changed too. Gold is behaved. 

It is like the traders out there, are all canceling each other out.  We sit.

I guess we need to wait for the next tweet or more talk on the tax/economic plan. In the meantime, lean against the levels, and enjoy the next show...."Honey, I know you love the Bachelor, but can you make some popcorn and let's snuggle up.  Trumps weekly presser is about to start..."  

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