Alternative Path

[gdl]

Everyone assumes this is theater, a show to placate both sides with phony cuts. We shall soon see. Or rather we shall wait till the 11th hour as the street has no appetitive for drama nor do they even think this will actually end in a default. The market tips it's hand as it is likely to result in a very late date in May where a no deal will start the concern on wall street or a more likely scenario will fool all. That scenario will first report a deal and later as McCarthy brings it to the floor they balk and refuse to sign on.

So I suspect we either struggle along till mid week of NEXT at the 11th hour truly expecting a deal -or- this week we get some sort of deal that falls apart next week.

One scenario keeps pressure on prices while the other allows for a short spike move higher followed by a trolling over into a crash setting.
But one thing seems the same, the drama is going to keep the market flat or higher till the 11th hour.