Mike Paulenoff
11-06-2006, 02:47 PM
Earlier on CNBC, one of the guests mentioned that a split Congress, or even a Democratic Congress, juxtaposed against Republican (Lame Duck) President historically was bullish for the stock market because the conditions reined-in out-of-control spending... And the current Republican majority certainly has exibited unteathered spending for the past 5 years or so.
And maybe the stock market recognizes that at the very least, the House will shift to the Democrats, and for that reason alone, maybe the Administration will NOT be accorded the funds it needs (from Congressman Rangel)... to finance the war, and other Bush endeavors...
Can or should we interpret that as "good news?" Who knows...
One thing I think I know is that the forex market usually is the place to look for clues about such perceptions... and right now, it is NOT acting as though much if anything is about to change as a result of tomorrow's mid-term election... With that in mind, let's have a look at the euro...
Read more and view the technical chart analysis at http://www.mptrader.com/markets.php
And maybe the stock market recognizes that at the very least, the House will shift to the Democrats, and for that reason alone, maybe the Administration will NOT be accorded the funds it needs (from Congressman Rangel)... to finance the war, and other Bush endeavors...
Can or should we interpret that as "good news?" Who knows...
One thing I think I know is that the forex market usually is the place to look for clues about such perceptions... and right now, it is NOT acting as though much if anything is about to change as a result of tomorrow's mid-term election... With that in mind, let's have a look at the euro...
Read more and view the technical chart analysis at http://www.mptrader.com/markets.php