Last week, the U.S. stock market made some corrections. Although the weekly line is not good, it is very likely that the bullish trend will be restored next week.
What we need to recognize is that the U.S. stock market is still in an upward trend and is cautiously enjoying the hype of lowering expectations in September. Last week was just a break. And the tool for coordinating the break is to talk about the possibility of Biden abandoning the election.
Last week's break was reasonable. I think it has almost been a break, and it will start to rise next week.
In terms of event tools, many political KOLs and mainstream media began to exaggerate Biden's abandonment of the election in the middle of last week. But I think this matter will be left unresolved in the future and cannot become an emotional tool for short sellers.
Why do you say that? The Democratic Party is now either lying flat or getting a decent losing posture. Their alternative candidate Harris is conducting public opinion testing. But the chances of winning are not great. I guess Harris personally may not be willing to take over the hot potato at this time. Assuming Harris does not take over, the market will rise.
What if Harris takes over? Then her team must do as much as possible to gain as much political respect as possible. Then the cards that the Democratic Party can play are to run around and put pressure on the Federal Reserve to implement a rate cut in August or September. Although the Federal Reserve has repeatedly emphasized that it is independent, the market sentiment under political pressure has to be calculated in the market.
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