The market that doesn’t hold a grudge
With every crisis or potential crisis that occurs, the market has one of the shortest memories of all time. In some ways the market would make an excellent spouse, because when something doesn’t go right, it only holds it against your for a day, maybe a couple of hours even, and then it goes back to life as if nothing ever happened.
The same is said with the Trump Memos. It really shook the market up on Wednesday. Crushed the key moving averages, support levels and the morale of bulls across the board. But then yesterday and the futures last night: Forgive and forget.
Obviously there is a lot of market ahead of us today before we can enjoy the weekend that is within arm’s reach. But it is still amazing just how resilient despite everything that has happened over the past year, just how strong it remains.
When it comes to trading today, don’t feel the need to load the boat with long positions. You still want to show some caution, but if things can hold together, maybe 2-3 new positions to the portfolio wouldn’t be a bad thing.
Just take it one step at a time. And don’t rush things.
S&P 500 Chart
Current Stock Trading Portfolio Balance:
Recent Stock Trade Notables:
