Hi traders, the S&P500 lost 1.3% last week. The excuse was Trump’s failure to pass his healthcare plan, however, the real reason is the fact that the market climbed by 12% since the November elections almost without a pullback. The market climbed due to expectations for lowering taxes and regulation, however, now there is a growing concern that due to the healthcare failure, these plans may fail.
As I mentioned last week, the market need a 5% pullback, therefore now, any bad news are a good excuse for a pullback. This is a process that probably has just began.

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