The Senate and House passed their tax reform legislation and the President signed it on Friday, but the market just yawned. However, yawn was all it did as the indexes remain within short consolidations following their moves to all-time highs on Monday.
Illustrating the constructive consolidating action, the NASDAQ Composite Index is tracking sideways to slightly downward as it consolidates the Monday gap-up to all-time highs in constructive fashion. You can call all the tops you want, but so far, I don’t see any topping action, at least not in the major market indexes.
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