The market came under pressure yesterday due to political reasons, the Dow Jones was off 370 points, volatility spiked 46%. Without getting too much into politics, we can assume that the market will be under some pressure until we get a little more clarity. That clarity might come next week if FBI Director James Comey decides to accept the Senate panel invitation to tell his side of the story.
Recently we have had a streak of down Friday's, 7 out of the last 9 Friday's the SP500 has closed lower. The reason and or justification for this has been that investors are concerned of Trump doing something over the weekend that might hurt the market.
It will be interesting to see how the market reacts tomorrow, the reaction can give us some clues on how serious the current issue will be taken and if most of it is already priced in.
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Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at fzorrilla@zorcapital.com or 646-480-7463.
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