Today it looks like politics get the attention of the media and pundits as the market yawns with S&P 500 (SPX) futures unchanged in pre-market activity.
- Mike Bloomberg, the former Mayor of New York, is preparing to enter the Democratic Presidential race.
- There is back and forth about phase 1 of U.S. – China trade negotiations.
- Elizabeth Warren continues to attack Billionaires as they fight back.
- The Trump Impeachment theatrics drone on.
Remember, it just doesn’t matter at this point. With all the potential issues that have grabbed the headlines over the last few years, the only thing that ultimately mattered has been the direction of interest rates, availability of credit and perceived forward guidance of the Fed. Period.
As an aside, the push-back I am getting for adopting a 2-5% correction call has been significant. The same folks that chastised me for having an offensive posture in early October are now critical of a pullback call. Ultimately, we are not suggesting an outright sale, but as you know we would not chase the next tick until some of our key tactical indicators work off their overbought condition. Have a great weekend and thanks so much for your interest in Dwyer Strategy.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses.
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