It's Taco Wednesday!

As I suspected, and have discussed both here and with Members, we are starting to see some pushback against the President for his constant reversals on trade policies. In fact, Trump himself was questioned about it today by a reporter in the Oval Office. 

Specifically, "TACO" has become the acronym du jour, standing for, "Trump Always Chickens Out." 

The unflattering acronym undoubtedly has the President a bit perturbed, as he views his actions from a position of strength. 

Still, regardless of how you, me, or the President perceives the various and seemingly conflicting trade war headlines there can be no doubt that the strategy runs of the risk of overloading the market to the point where it all becomes sheer noise in the not--too-distant future.

In essence, the issue is that if Trump were a poker player he may very well be quite talented but he simply plays way too many starting hands which, if you play poker, then you should know risk a serious risk of ruin over time. 

As for today's session we have been sloshing around the flatline for much of the day with a slight fade this afternoon. That said, with NVIDIA and CRM earnings tonight, respectively below on their weekly charts, it should be clear this is shaping up as the last major earnings slate of this season. 

Both CRM and NVDA are sporting potential--I stress potential--major tops. Naturally, if they sell off hard tonight it will add credence to the patterns, and vice versa for negating them with big gaps higher. 

Still, I cannot shake the feeling that the market is almost foaming at the mouth for a new directional move free from the constant barrage of trade headlines reversing each other nearly every single day.