Debt Ceiling Drama
It looks like the US confirm can avoid the debt ceiling crisis based on the latest news. You know how those US politicians are, always craving for drama and love being the center of attention. Confirm they will drag their feet and enjoy all the media spotlight HAHA. But jokes aside, I think the US government should have learned their lesson from the 2011 Debt ceiling crisis and won't wait until the last minute. But if they really do, the stock markets confirm will tank because the markets really cannot tahan uncertainty.
Talking about the current market situation, we're in the bull market now. Even the NASDAQ up 24.92% YTD. Confirm the stocks will continue to climb if nothing uncertain happens or got any more black swan events. The only thing need to look out for is if inflation suddenly spikes again. You know, inflation never go in one direction only, sure got spikes here and there before going down again. So better stay calm and huat lah. Cheers!
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With QQQ above the upper bollinger band and the RSI at 74.35, the days are numbered. Now we can refocus our attention on red hot inflation and rising interest rates (June and July increases at minimum) which will ultimately slow the economy and bring us into recession.
Futures barely moving on the debt ceiling deal. Which means they most likely tank overnight for a gap down open based on "sell the news" affect. This will set us up for a nice selloff through June.
Funny that I am a long but do not see myself as greedy. I just hope for a decent rate of return over the longer term by what constitutes most of the premier companies of the U.S. (Goog, MSFT, APPL. TSLA, FB, etc, etc) and consequently the world. Nothing comes even close. Folks can ride their boogey boards shorting the choppy surf to their hearts content, but ultimately the sea is going to win.
No agreement will be passed before next weekend ! Sell at the open tomorrow ! Buy later in the week & without a doubt dump everything going into the FED June 14 announcement ! Dive ! Dive !! Dive !!!
Wow, the futures are really soaring with a tentative debt deal. This week could be what I have been waiting for, painfully.