Market Outlook: Shark Tank

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US Equities markets handled multiple faux paus of the new Trump administration as a sideshow and focused on an upcoming proposal to reduce taxes. The S&P 500, NASDQ 100, and the Dow Industrials (INDU) all soared to all time new highs and closed around +1% on the week.

One thing to note however is that trading volume has dropped to levels not seen since 2007. It could be the sharks are swimming in the dark pools, accumulating positions from murky waters.
Overall, Mr. Market seemed happy with the decision by the federal courts to stop President Trumps executive order on immigration. Mr. Market generally likes the idea of checks and balances. He seemed even more thrilled by Trump’s quick retraction of multiple China’s which eased tensions with the worlds second largest economy.

Trumps special advisor Kelly Ann Conway, drew flack for confusing promoting Ivana Trump’s clothing line with running the country. Conway was sent to her corner (hard to find in an oval office however) and given a time out. Mr. Market again shrugged his shoulder and moved higher.

The gains this month are confounding skeptics and quants who count on February for being one of the weakest performing months of the year. This month is not over of course and anything can change on a dime.

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