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The lack of volatility in the news kept any major shakeups from occurring, lending a sense that the market is holding its breath.
There was a blip of drama on Tuesday sparked by a comment made by President Trump after he exited a meeting with Conservative Republicans that day. His less-than-sure response when a reporter asked if the President believed that he had all the votes needed to pass the Health Care Bill whacked the Dow. At that point stocks headed south by 180 points and gold rallied to a three-week high.
Aside from that bit of excitement, the markets have been pretty steady and dare-I-say boring this week. Even so, the CME gold and silver volumes seem to have had healthy activity day in and day out.
President Trump is flexing his muscle and demanding a vote today on his health care bill. We all know the President hates to lose and if he doesn’t get his way he will move on to tax reform.
The equity market likes tax reform and, in my opinion, has little interest whether the health care bill passes or not. Case-in-point, the equity market at 9:30 is showing a positive opening.
So there is still good interest in our market. Unfortunately, the lack of any news reduces the volatility, which in turn keeps the big players out of the market for the time being.
Author Name: Dillon Gage
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