Our premium subscribers saw this call this morning at 6 am on the S&P 500,
"After reviewing SPY overnight it looks "very bullish" again. The daily has been bullish since the 14th of Feb so has had a nice run. Markets look up overnight after nothing that negative came out of President Trump's speech."
Turning "very bullish" was an upgrade for us from the day before.
The day before we were also bullish just not the official "very bullish,"
"President Trump speaks tonight at 9pm. Based on what he said about military spending and infrastructure it should be a market positive. The one risk we can think about is how he will manage to keep the debt ceiling from rising. The deadline for that is March 15th. Of course they can always let it just continue higher and markets will be fine with that. If President Trump talks about holding the debt ceiling we need to wonder where he will find funds to pay for it."
He did not talk about the debt ceiling so the other issues could shine through.
Generally markets take these major news events and wait worried about a chink in the armor. When there is "no news," no news is good news. That's been the trend.
Of course our calls can change at any time.
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ETFs reported by Elazar Advisors, LLC are guided by our daily, weekly and monthly methodologies. We have a daily overlay which changes more frequently which is reported to our premium members and could differ from the above report.Portions of this article may have been issued in advance to premium members.All investments have many risks and can lose principal in the short and long term. This article is for information purposes only. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC and their related parties harmless. Any trading strategy can lose money and any investor should understand the risks.
Disclosure: I am/we are long S&P 500 WHICH CAN CHANGE AT ANY TIME.