Loading ...US Share Market for the Close of May 8th
We still see that the market is treading water. We may yet see a little bounce into next week, but the following week is where there will be a risk that we see a retest of support. The polls will be skewed now to trying to blame Trump for everything. We do not really worry about the polls, nothing seems to have changed but we will be running our models on the elections coming up in more detail. The storm is gathering in a desperate attempt to overthrow Trump and this has been an intentional direct attempt to undermine the economy. That was the last shot they had to overthrow Trump and then indeed create a New Green World Order.
As we head into the months ahead, we will see the devastation inflicted upon the budgets of state and local governments. They will be raising taxes generally 20%-40% to raise revenue. This will only suppress property values and make it much more difficult for an economic boom.
Therefore, the Sling-Shot remains in full play. The issue will NOT be profits and visions of grandeur, but of panic in capital fleeing from total government mismanagement.