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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Wednesday | December 11, 2019

Hello Mayumi.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: December 10

PRE-MARKET

The Minis were higher after China commented that it had hope and belief that the Dec 15 tariffs would be delayed. Shortly after that, Minis fell again after Chief of Staff Mick Mulvaney stated that the tariff decision would be based on how the talks are going.

OPEN – IMPEACHMENT

The market opened at the same time Nancy Pelosi and Nadler were speaking about the impeachment process. The are charging the President with two counts, including the laughable offense of interfering with Congress for exerting his lawful executive privilege. This sent the SPX cash down to the lows of the day of 3126.09 (-9.87).

After the markets had time to digest this news and discount it for the political circus that it is, the market went back to the UNCHANGED LINE. If this were a real impeachment based on real crimes like Bill Clinton's impeachment, the market would fall >1,000 points (in all likelihood). It certainly would not be parked at all-time highs.

USMCA

Needing a distraction from the flimsy impeachment headlines, Nancy Pelosi came back out and announced that the Congress was passing the USMCA after they improved on Trump's version of it—though they did not mention President Trump's name. The same people that loved and approved NAFTA now takes credit for USMCA. Again, the market didn't seem to care about this USMCA deal regardless of who takes credit, and this is a little concerning. The USMCA is a big deal, and no rally higher on the passing of it is suspicious.

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TODAY: December 11

I am a little concerned. I am ignoring the impeachment process yesterday as the market doesn't care, and it knows it will go nowhere. The Senate can have a 1-hour hearing, and then the whole thing is dropped. But the USMCA is a big deal, and any progress in China is helpful regardless of how small. Maybe all the news yesterday was too much for the markets to digest and the results will bleed into today's trading. We also have the Fed rate decision today at 2pm eastern.

2019 ONE-YEAR PREDICTION: MUCH HIGHER (+27% so far)

2019: MUCH HIGHER FROM HERE (2506.85 SPX) – (prediction made January 2, 2019) but not a straight line, and not without some volatility. Trump WILL get his wall. China will buckle and blink first. The Fed will go back on their medication, and spend time thinking about what they say (before saying it).

ARE ANY OF THESE COMING TRUE? Look at the exact words I said about “blinking first” a year ago.

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POT class tonight on MARGIN.

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