E Market Briefing For Friday, Jan. 15

Finally the President called more formerly (but not a National Address) for the maintenance of peace and sanity, and perhaps the images of National Guard, with weapons issued, itself becomes a deterrent to radical militia actions etc. I am still stunned that some Trump supporters do not grasp the significance of the SCOTUS decision on the Election, which is the final word.


 Politicians grapple with 'how to come together' or remain largely split. Nevertheless 10 Republicans voted with the House Majority for Impeachment, at the same time it is presumed the Senate won't convict in a future trial.

Now this market, contrary to what some say, remains married to 'stimulus' and to progress against COVID-19, as those are the primary issues for the moment. In fact our basic high level S&P neutrality call this week reflects much on-hold.

Daily action - notes we're still in an uptrend on 'yields', and now prepare for another speech by the Fed Chairman tomorrow.

S&P continues mostly sideways and relatively unimpressive, really it is stable based on expectations of major infrastructure or other spending. At least until now, with the political overtones having coming to a boil so maybe simmering.

PS: The author was diagnosed with Covid as this post was in progress and publication was delayed. As of Feb. 23 the author is still hospitalized, but recovering. For more info see updates here.

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