November 2nd Daily Market Comments

The devil may be in the details! Everybody anticipates the tax cuts should boost the market, but the details of the tax cut may throw the politicians into a tizzy. The anticipation of how hard it will be to get the tax bill passed may have a deterrent on the market trend. This still requires attention to each individual stock chart, with long positions not demonstrating reversal signals and staying above the T-line while short positions should not be demonstrating buy signals and a close backup above the T-line. This needs to be watched more diligently based upon the potential of political rhetoric whipsawing the markets. Be ready to go more into cash if the markets start showing choppy reactions of political blubbering.