What a crazy morning, huh? First the market was down hard due to good common sense and logic. Then China says the tariffs won’t kick in, sending the market soaring. Then the White House says, screw you guys, we haven’t decided anything yet, and the market fell. And then, thanks to QE4, it bounced up again. It seems to have found a schizophrenic equilibrium at about 3140.
Looks like we’re in one of those “don’t do anything until Powell speaks” markets, in which the Pause button has been pushed and we have to wait until the Fed nonsense of Wednesday. Stay tuned, though. I’ve got something spiffy and spectacular for you this afternoon.