Budget Talks Spur Market Rally
On Monday and Tuesday I mentioned that any movement in the budget talks would likely lead to a large rally.
Historically when so much confusion comes into place, portfolio managers just stop buying. They usually will wait until there’s a safer time to buy and that occurred yesterday as they opened the DOW 170 points higher. Subscribers to the Daily Battle Plan should have locked in their gains in SPY on the close last night.
The market today is overbought and we’ll wait for the next pullback.