Heading into the close of business for the day, stock indices have recovered from early weakness and are all higher on the day.  The mini S&P and mini Dow have both printed fresh highs today, while the mini Nasdaq and mini Russell are still a bit below last week’s highs.  It will be interesting to see how President Trump’s speech to a joint session of Congress influences the markets moving forward.  In the speech, he is expected to go into greater detail about what his plans are moving forward and will hopefully shed some more light on how exactly he plans to accomplish them.  The lack of details in how he plans to accomplish his agenda has been among the chief concerns from his critics.  He spoke earlier today to address the future of Obamacare, the budget, tax cuts, defense spending, etc.  While he did a pretty good job laying out what his intentions are, he did very little to say how he plans to get there aside from cutting foreign aid to boost defense spending.  Hopefully, tomorrow will provide us with a few more answers to those questions and give us more information on whether this rally in stocks continues or we actually start to see a meaningful pullback.  


Emini 240 min Chart

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Bill Dixon

Senior Market Strategist
Bill began his career working with a firm of technical commodity traders specializing in the treasury and metal markets. In 2006 he moved over to Lind-Waldock as a broker. Bill joined RJO Futures in 2011.
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