Markets: as suggested on the blog Sunday, the market is disconnected from both a) ObamaCare repair; and, b) tax reform.
Markets: outside of the tech sectors, market moves are connected to -- short-term and mid-term --
- earnings (or perception of earnings)
- the Fed rate
- the anticipated Fed rate
- the strength of the dollar
- the price of gasoline (not the price of crude)
Markets: today's Dow simply reflected one thing -- Goldman Sachs earnings; it gave the big boys a reason to take their profits; that's why the Nasdaq went in the opposite direction -- during VP Mike Pence's speech, the Dow hit its low for the day, down almost 150 points; by the end of the day, his speech was forgotten, and closed down a minuscule 50 points.
Tomorrow: T+180 -- six months of Trump's presidency.