Standard & Poors has reduced its sovereign credit rating on Japan from AA to AA-. How likely is it that this credit rating will continue to erode and lead to funding problems for the Japanese government?
The stock market indices started off today with a gap up. They pulled back and tested support, and then took off, setting new S&P 500 highs just under 1300.
Don't expect a balanced budget for this year or any year of this president's administration. Instead, he'll add 75% to the nation's official national debt -- three times more than all the presidents who came before him put together.
Market leadership has shown some signs of stabilizing, but Deron Wagner's nightly scans continue to provide an equal distribution of both long and short setups.
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