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Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...
Mike's WrapHeadline Risk Reigns Supreme! But What is the SPX v. VIX Set-Up Telling Us About Near Term Price Direction?
Perhaps tonight into tomorrow is all about Headline Risk, as we navigate through the minefield of one-liners and miss-statements (fake news either way) about whether or not the Trump-Ryan Health Care Bill has enough votes to pass the House, which itself will be taken late in the session (possibly right after tomorrow's close). The House Freedom Caucus, which vehemently dislikes this "Obamacare Lite" bill, has enough votes to defeat the bill, and will require serious horse-trading to secure the votes of its membership. This vote represents President Trump's first major piece of legislation, and as of this moment, its passage is in serious doubt. Welcome to the age of Trump, the new age of negotiation, ushered-in by the great negotiator himself, who unwittingly may have enabled members of his own party to grow a backbone in their negotiation with the master himself! Irony aside, ... Read More
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