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A weekly Saturday financial show that attempts to predict market direction for the week ahead by looking at a variety of fundamental and technical charts. This week's show features commentary on Janet Yellen and the Federal Reserve's strange timing of a rate hike, how Obama Administration diverted FNMA money and investors dividends into Affordable Care Act to keep it solvent, and the collapsing pension funds across America.
A gay nightclub in Orlando was the scene of the worst terror attack in U.S. history since 9/11. A shocking 50 people were killed inside the Pulse club. Was it Muslim based terrorism or gay hate as a result of the redefining of marriage by the Obama Administration and Democrats?
It was probably both.
The gunman was Omar Mateen of Ft. Pierce, Florida. Omar Mateen was armed with an AR-15 assault rifle and a hand gun. Omar Mateen was a Muslim and did have radical Islamic ties. He held a Florida security officer license and a state firearms license.
In the past, Obama would never blame the problem on radical Islamic terrorism. In this case, Obama might try and blame it on gay hate or automatic firearms.
Clearly this was ISIS. ISIS claimed they were going to attack Florida just three days ago. They did. Democrats might try and claim this was something other than Islamic terrorism, like gay-hate or something, but most Americans know the truth.
The overnight S&P futures market will begin trading in a few hours. This will give us a suggestion as how markets will open on Monday. I will be posting updates on the S&P futures market below.
June 12, 2016 8:08 PM Pacific Time in the U.S. – S&P futures have moved slight lower since last update. As of 8:08 PM, S&P futures are down -0.40%. The futures market seems to holding fairly steady. We can say now with greater confidence that we are not seeing a crash in the futures market so this will likely be the last update for the night.
June 12, 2016 6:45 PM Pacific Time in the U.S. – S&P futures are moving lower. As of 6:44 PM, S&P futures are down -0.37%.