Friday, March 24, 2017

Healthcare Bill Not Driving The Trend In US Stocks

The success or failure of healthcare bill is only an excuse for consolidation in stocks. Headlines like excuses rather than causes, so expect this narrative or some other political permutation to be repeated at length until consolidation ends. The Dow has support 20,600 and 20,200. A weekly close below the form favors continuation of the decline to 20,200. A close above 20,600 implies strength despite a growing number of bearish calls on stocks.

Please consult the latest Dow Industrial Chart for further discussion of the trends.

Headline: Wall St opens higher; healthcare bill vote awaited

(Reuters) - Wall Street opened higher on Friday, helped by a rise in technology shares and ahead of a closely watched vote on a healthcare bill seen as a test of President Donald Trump's ability to pass his legislative agenda through Congress.

It was not clear late on Thursday evening that Trump and Republican leaders had enough support to pass the bill, with Trump warning lawmakers from his party that he will leave Obamacare in place if they do not rally around him.



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