DPR Update Monday April 17th 2017

By John Bannan | April 17, 2017

DPR Action: No trades, nothing to do

I was a little apprehensive after the long weekend regarding the North Korea tensions. Thankfully the market brushed it off. I ended up with a very small loss in the last trade, there was just no follow through from the market.

I am not particularly surprised considering how high the market has climbed since the Trump win. However, as we are in the midst of earnings and the banks reporting after the bell, we may see another push higher as least in the short term.

In my opinion, and this is a pretty obvious statement, the market is very susceptible to geopolitical risk right now and there may be a few more headlines over the next couple of weeks that cause investors to sell. Only time will tell.

In the meantime, the system has stood aside and I now wait on the next signal. My preference would be new lows in the indexes, but I will follow the system no matter what. For now, no signal, nothing to do.

My best,

John