It’s a lot more than just that. She’s scandal ridden. Do a search for “Bologna family murders.” Actually her problems started long before she was DA in SF; they just didn’t come out during her presidential run. But they will now. And yes, there’s nothing like that woman to make sure the Trump base turns out in force in November.
This is the market saying Biden/Harris has no chance. Most of the country hates California politics. There’s no way Biden wins swing states with her, and more votes in California don’t help.
I am repeatedly telling, market is acting on its own, only news/media high-light some interesting stories to attach to market reaction. Market is leading, and nice stories are trailing the market action.
Do not be fooled by news/media/analysts (news paper or TV show analysts) posts, they do not have any clue about what market is doing.
Use your own EW, if you are good at it, that is far better than any other stories.
Eventually all common man trading (not investing) like reddit->wallstreetbets goes to big banks and HFTs.
One of the biggest Trump boosters in my neck of the woods is my state legislator, Walt Blackman - who’s black. And one of the most active local groups is “Women for Trump.”
Just FYI, whether you believe it or not, daily changes are happening with HFT algorithms. Nothing to do with Trump, Harris, US-China…etc.
US-China tension exists since day 1 Trump came as president and will continue forever. The only true impact is Tariff on goods import (100Bln) and specifically affects the company which imports.
But, market swings trillions with their own HFT algorithm. News/Media assigns a nice story for their circulation.
You are too good on EW, use it and never take any decision without such EW analysis.
Never believe any story on daily basis except fundamental changes such as qtrly report etc.
Market is not acting based on stories published, but stories are published based on market action !
Today News/Media shows a story about Kamala Harris (hot topic) to improve their circulation, that is all.
If tomorrow market drops, does it mean Market Hates Kamala Harris?
If tomorrow drops, new/media will tell “stand off between Corono-bill agreement or something interesting stories…”
Regarding SOXL, see previous 5 days, market continuously dropped it 5.85%, today it jumped 8.11%, just compensating the drop - This is the so called short term mean reversion. Your EW will tell you nicely about it.
When you see SOXL at deep discount it is attractive to buy, right? It is basically buy low, sell high.
Known in investing circles as the “Buffett Indicator,” the measure is simply the total market cap of all U.S. stocks relative to the country’s GDP. When it’s in the 70% to 80% range, it’s time to throw cash at the market. When it moves above 100%, it’s time to lean toward risk-off.
Good, let me try to add his indicator too and see whether it is useful.
No kidding. Streets are packed in my area. Contractors are too busy to even answer their phones. This isn’t being driven by the $1200 checks or unemployment benefits.
“The economic consequences of this level of unemployment has not been fully felt by the economy due to the significant transfer payments from the government,” Rines added. "As the ‘surge’ payments expire, the US economy will begin to feel the pain more acutely.”
Don’t fight the Fed and WH
Profits for the companies in the S&P 500 plunged nearly 34% in the second quarter, according to FactSet analyst Marc Evans. That was the worst drop in five years. And sales fell almost 9%, the biggest decline in nearly four years.
Evans also noted that earnings for the S&P 500 are now expected to fall nearly 19% this year, compared to an anticipated drop of just 1.2% back in March.