Good morning, everyone. Well, quite a weekend, wasn’t it? I’m glad I wasn’t traveling by plane. Are people really this surprised that Trump actually is doing what he said he was going to do? I guess the nation is too accustomed to politicians……….actual politicians………like ol’ Hillary and assume that campaign promises are merely for the election season and don’t really mean anything. All I can say for those who are freaked out by just a single week of this man’s tenure…..it’s going to get wayyyyyyyyyy worse.
The silver lining, of course, is that he could completely wreck the equity markets while doing so, and this morning we’re off to a bit of progress. It won’t really count, however, until and unless we break beneath the green tinted area I’ve shown below. At this point, we’re simply retracing the big breakout from last week, which the 20k-obsessed media was celebrating.
There is plenty of action happening this week to stir things up. First off, earnings are in full swing, and giants like AAPL (which report Tuesday after the close) are going to get plenty of attention. There will be the continuing daily excitement from Washington D.C., naturally, and there’s also a very full docket of big economic events and announcements, a few of particular interest I’ve highlighted below:
