Pain is the best motivator for most people to change, but somehow this administration hasn’t learned that tweeting keeps creating more pain. There is a total lack of confidence in our government, and it is only going to get worse as the Dems take the House. The question isn’t whether the news is bad and can get worse, the question is when it is discounted in the market. The extreme level of oversold suggests that at least for the near-term it is being overdone to the downside. Please take a look at our charts in Extremes and expectations.
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