There Was Trump Obamacare News Today? Where? Stock Market's Up

Picture: Any chance we have an excuse to show
a picture of President Trump is a good day.  Here he's
shown in front of millions gathered for his inauguration.
It's no small thing President Trump is giving up on his Obamacare replacement. From what we see the stock market looks flattish pre-market. The S&P 500 ETF SPY is up a couple of pennies. Earlier in the year that would have been huge news hitting the stock market hard. Now, not much. That's why that is the news. Bullish news, we'll explain.

Quick Reminder How We Make Money From Market Action 

Market action is the technical analysis art of understanding what's the news, what should happen, but paying attention to what does happen.  When you find inconsistencies between the news and the reaction, you found a valuable piece of action.

You Don't Remember The Worst Day Of The Year March 21st?

S&P 500 ETF SPY March 21
Chart By Interactive Brokers. "Oh No" By Elazar
In contrast, on March 21st, the US stock market was catching wind that the Republican plan to repeal and replace Obamacare was failing.

The US market took that to mean President Trump may not be able to get his pro-business agenda passed. That would be a stock market negative.

Markets were hit hard on the news scare recording the worst day of the year to that point.

Fast Forward to July 18th, Hey That's Today

That's right you're part of history. Same news today (Sort of), maybe worse in a way because Republicans are giving up on a piece of their agenda today.

That's the news. But how do you make money from it? By looking at how the market is acting.

S&P 500 ETF SPY
Chart By Interactive Brokers. "Oh Yes" By Elazar
Today's no-action is telling you something very different than March 21st.

So while the media's piled all over each other for another bombshell we watch action to help us make money.

What's action telling us, Oh so bullish. Oh Yes! (Say it)

One More Sweet Sweet Technical Bonus

Look at the chart just above. Do you see how the three recent lows were each higher exactly following that uptrend line?  Guess how long that uptrend has been in motion...

S&P 500 SPY ETF Pic

Let's zoom out. That uptrend is up since the elections. The stock market is following marching orders higher. (SPY ETF, "Yes Sir!) The last three dips in the last few weeks showed higher highs exactly at that uptrend line.

Oh so sweet, oh so pretty. Say it. Oh Yes! (in comments)

Elazar you can't just make news out of news that's not news. That's not news, that's ....

By: Chaim Siegel, Elazar Advisors, LLC, Happy and profitable trading!

Reading Comprehension Time:
President Donald Trump is
A) Prime Minister Of Canada
B) Married to the President of the United States
C) the guy who lost to Hillary Clinton fair and square
D) President of the United States

Answer: If you answered D you are correct. You can celebrate by letting us know in comments and printing out this report and showing your kids.  Congratulations!

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Disclaimer: Stocks 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 report may have been issued in advance to subscribers or clients. All investments have many risks and can lose principal in the short and long term. This article is for information purposes only. Ratings are based on hypothetical trade directions. 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.