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Remarkably, there have only been two breaches of the 50-day moving average since Election Day. That is what resilient bull markets are all about!
Still, I firmly believe that this bull market has lived by the sword of political hopes.
Those hopes are, of course, rooted in President Trump is pro-growth economic agenda. That agenda included regulatory reform, Obamacare repeal/replace, an infrastructure spending plan and, most importantly, tax reform that includes a substantive cut in the corporate tax rate.
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