It won't get past the Senate in anywhere near the form the House passed. So, the market will ignore it for now. If the House version of the bill did become law we would be right back into the biggest economic downturn since the depression. You can't increase taxes and create buraucaracies like the Democrats want with out economic consequences. Cap and Trade is another bill that could doom the economy if it passes. Right now the market is saying neither will become law. Watch out if the market changes its mind.
no one really cares if its good for the S&P, we just looking to see which way it goes....north or south once markets start to react. The vote in the house to pass the bill should cause a bit of a sell-off in insurance stocks starting Sun during asian session and into euro session, thereby having S&P open lower into tomorrow morning. We'll see... Look for short opportunities today and tomorrow 10-15 min time frame. No scalping needed nor encouraged.
Still think that passage will be bad for the market? The dollar lost some quick steam at the end along with the markets gaining some short-lived strength....... Should be an interesting week ahead
time for douchebag gangster AL Gore to start talking his useless doomsday drivel to make a frenzied mess out of the big picture....