Expect Fireworks at 2pm

The S&P 500 dropped over 15 points into the close yesterday due to fear around what President Trump is going to do on the Iran deal.  Tensions remain high in the market.  As I type this it has come down as bit after the open, and I doubt we will see a rip roaring rally before the news is released.

It is widely expected that he will announce that he is leaving the deal that Obama signed in 2015 with 5 other countries.  How he plans on doing that, and when, remains to be seen.  Iran has massive Oil stores and so any development could cause a big move in energy which could influence a big move in the market as a whole.   The stickler is that international inspectors and signatories to the deal, including the United States, have consistently certified that Iran is complying with the agreement, but Trump has decided the accord itself is flawed…let’s see.

I am looking to get back into the market, but who wants to enter with this news looming?  Not me!  Fortunately, I have a system and I don’t think beyond it.  It says I have a buy price set at a certain level, so it will be set there and ready.  If you are following this one, I hope its a big winner, should it be filled!

Bring on the bulls!

John