THE CLOSE

We don’t think you can take too much out of today’s action. Yes, the NASDAQ-types again led but that’s all we will give it. We suspect, absent a surprise news event, we can get some upside testing but there have been a decent amount of near-term chart breaks, especially in the financials. Financials were much worse off early before bouncing but seems like the air has come out of them for now. Of course, that can change with some political votes but that’s just guessing.

We are going to get a vote on healthcare. We are not so sure it matters much but we shall see. We hear that there are not enough votes to pass. If that’s the case, we ask why they even put it up for a vote. Tomorrow could be interesting.