Hey Market Pilots,
I’m sure most of you are aware by now some major news broke last week: Trump tested positive for COVID. Clearly, this isn’t good news for anyone but his opponents. The market’s reaction was quickly negative but surprisingly contained as price held the overnight support and the Hourly 50 SMA.
President Trump’s condition over the weekend has maintained and he even made a quick ride around the hospital for his supporters. Word has it that he may be released Monday, so basically, all news concerning Trump is positive and so the markets have responded positively. We are not out of the woods yet so Stay nimble.
I did a quick search and It appears that many world leaders have tested positive for COVID, but only one passed. Who can say for sure in this situation but from my research, it looks like most have recovered.
We all know the President of the United States will be receiving the best medical attention possible and that we have mechanisms in place to keep the country running while he recovers.
We simply don’t know enough yet to determine how much of an issue this will be. As traders, we must watch the tape and see what the reaction is. As citizens, we wish for a speedy recovery regardless of what political beliefs you hold because losing a president right before an election would be destabilizing and chaotic.
Over and Out,
Your Profit Pilot.
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