Tweet *****Markets were boosted by earnings results for the past two weeks, coupled with enthusiasm about Japan's quantitative easing. Now, we will take a breath waiting for election day and results, unless it is already decided that it will matter none.
It is interesting that the USA may totally dis-empower Congress and leave all decisions about its well being in the hands of the Executive branch along with the FED. Certainly it has been moving in that direction for quite some time and if I'm right, the reaction to the election results will be nothing more than a possible pause. Elections at one time were important, people really cared about who was going to represent them in the Houses of Congress and Senate, and waited sometimes at the edge of their seats. After all Congress is supposed to have the power to decide on spending, but alas they have allowed themselves to be reduced to nothing but stamps of approval about how the Fed thinks and the President wants, in that order. So waiting for results on the elections, I see as no "biggee".
Waiting, however, for $BABA earnings result will be much bigger news and I bet there will be many more watchers for it; Therefore a favorable report will probably see the markets jump with joy along with $YHOO.
I recorded the Outlook as usual, on Sunday but posting it late Monday due to a delay; a technical glitch and a lack of attention. It stands as I saw it then, so wait no more and listen on:
Happy Trading, Living and Dancing
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