I was about to say we have a virus killing 1500 people a day and nobody cares. We have a few stupid protests killing 3 people . It falls when it falls and they can make any excuse they want.
This is like asking if war has any direct bearing on equities. It really depends from what angle you're approaching. I'm sure there will be a political fallout from all this. Any big political change will usually bring changes to the white house. That alone, for the most part, impacts the stock market.
Markets keep shrugging everything else off. This isn't any different If we sell off this might be used as excuse in news but I don't believe it for a second.
They shrugged off the first weeks of Covid-19 as well, until it dropped 35-45% (depending on the index) in under a month. Markets these days seem to squeeze between a 0 sentiment to a near 100 sentiment. In between is roadkill.
I hear ya brother. Just saying the news is essentially irrelevant to me. You could flip a coin as to whether price moves north or south no matter how negative or positive the news is. But yeah... bad news doesn't matter until it does I guess. Kind of like QE forever works until it doesn't.
Held reduced position short (IWM didn't confirm an up day). System says this will be a down week. 75% bearish position with Financials, IWM, SPY. Highest bearish position since I started trading this time around. Am sure it is a good time for market to rocket up.