The market ripped higher today as the so called “blue wave” that CNN, NBC, MSNBC, ABC, CBS, and PBS hyped turned out to be another mainstream media lie. There was no landslide victory for Democrats. The blue wave failed to materialize as Republicans increased their seats in the Senate and barely lost control of the House.
George Soros said he expected Democrats to sweep back into power and gain control of both the House and Senate, LOL, idiot.
Jeff Sessions was finally let go and now Republicans can get a real Attorney General who won’t recuse himself from defending the rule of law and the Constitution. If Democrats try to keep wasting tax payers money with bogus investigations hurtled at the President, I think we see Hillary Clinton and the Democrat party brought up on charges of colluding with Russia by way of the Clinton’s purchase of a fake dossier from the Russians and then using that dossier to wire-tap and spy on then candidate Trump’s campaign with the intent of gaining knowledge about Trump’s campaign so as to defeat him in the election. I think the new Attorney General will also prosecute current and former high ranking Democrats for lying to a FISA court to obtain a wire-tap. Robert Mueller can also be disbarred if it is found that he has abused his power as special prosecutor to get even with President Trump for not appointing him as head of the FBI. Democrats have far more to lose than President Trump in terms of recent illegal actions they have engaged in and so I expect Nancy Pelosi will lick her wounds and move to shut down the obvious waste of tax payers money in the form of endless investigations. If she does not, expect the new Attorney General to head the crackdown on DEMONcrats.
With DEMONcrat Nancy Pelosi as Speaker of the House, the House will move to impeach President Trump. They won’t win but winning is not the goal. DEMONcrats want to dead-lock Congress via an impeachment of the President. When an impeachment starts, everything grinds to a halt. No new legislation is passed. Everything will grind to a halt until President Trump wins against the impeachment proceeding. That’s what DEMONcrats want, they want to delay tax cuts, delay the trade war against China, delay the border wall, delay any new President Trump appointments, delay everything for another 2 years until the next Presidential election. There’s nothing to impeach President Trump on, in fact they colluded with the Russians to impact the 2016 Presidential election more than President Trump ever did. They know there’s nothing to impeach Trump on but that doesn’t matter. They want to use the court system to make him a lame duck President and impeachment will be their vehicle to achieve that end.
On the ADX indicator, the +DI line has still not crossed above the -DI line.
The upside volume was weak today. Sell side volume is at 1.2 billion, while buy side volume is at 1.03 billion on a 14 day sell side volume versus buy side volume analysis. In other words, selling volume is still beating buying volume. That’s incredible when you look at just price. We do not want to chase stocks right now until we see a much better level of buying from institutional investors and money managers. In fact, it would not surprise me to see negative trading tomorrow after the market open. The best position is still in cash right now.
Remember, the biggest, richest company in America is Apple and it’s in big trouble.
Rising rates are hitting consumers hard. Consumers are changing their spending habits as evidenced by the slow down in Apple iPhone purchases.
Apple is in so much trouble that their using a new strategy to not disclose unit sales to investors. As I’ve said for years, Tim Cook is no Steve Jobs. In what universe is disclosing less information to investors to hide declining sales a good idea? That idea is almost as good as Apple colluding with Google, Twitter, and Spotify to ban Alex Jones with millions of followers and violate his free speech rights. Restricting speech and the access to information is never a good business model unless you’re a top secret government contractor.