United States

Two weeks ago, Turkish President Recep Tayyip Erdogan won an important concession from President Donald Trump when, in a phone call, Erdogan coaxed a promise from his American partner to stop arming US-backed Kurdish resistance fighters in Syria. But that gesture of goodwill could be swiftly forgotten if Trump follows through with a plan to officially declare Jerusalem the capital of Israel – an act that Erdogan and many other Muslim leaders have said would be a “red line” that could force Turkey and several other Muslim states to break off diplomatic relations with Israel.

One look at S&P futures this morning reveals an unchanged market, however it is again the violent sector rotation that is taking place behind the scenes that is the real story, with defensive sectors real estate, retail, food, utilities outperforming while investors continue to bail and book profits on tech stocks after sharp gains since the start of the year.

Rig For Stormy Weather

Posted with permission and written by Gary Christenson, The Deviant Investor 

E-mini S&P 500 Futures (ES)

Based on candlestick wick analysis and data across all three primary US futures contracts, there is less selling pressure than ever before.

Not since xyz, not since insert year here... there is less selling pressure than ever.  But everything's awesome, right?  Just BTFD, right?

Authored by Eric Zuesse via The Strategic Culture Foundation,

A recent article in the Washington Post described how the current US tax-‘reform’ bill is being shaped; and it describes, basically (at least as far as tax-law changes are concerned), the operation of a US dictatorship by the super-rich.