SPX CL1! NDX

Equities remain resilient as SPX once again managed to climb back above the key 6.8K support before the close. The market is at a tipping point. I know it, you know it, Trump knows it too. Of all the presidents I've traded through, he may be the one who cares most about the stock market, as he always pumps it with fake news when it's about to break. The trick has worked, and it's still working. But he's running out of time. Crude is surging toward 90. A $10 per barrel increase can translate into roughly a 20 bp increase in CPI. With crude up about $30 per barrel since January, we could easily see inflation surge past 4%. Pressure from within the U.S. and from the midterm election could outweigh the upside of winning this war. But he'll want a winning narrative even if he withdraws. Trump ties stock market performance to his presidency. He wouldn't let this level go that easily. As we have witnessed over the past few weeks, countless attempts to break below support were lifted back before the close. Have stops in place to protect your profits.