Wall Street loves the prospect of a tax bill landing on the president's desk this weekend. We're within striking distance of Dow 25,000 as I write this.
I think the markets are going to continue to soar from here, allowing for the prospect of a small pullback when and if traders try and "sell the news" of the tax bill becoming law.
More gains ahead… but some gains will be bigger than others, thanks to the "January Effect" – a phenomenon distinct from the "Santa Claus rally," but which is happening earlier and earlier every year.
About the Author
Nationally recognized technical trader. Background in engineering, system designs, and risk reduction. 26 years in the markets.