Last week I wasn’t buying the rally.
Well, that changed over the weekend.
Chad Shoop back again and this week I’m ready to buy in.
Here’s why…
I was in shock like I’m sure the rest of the America was.
Headlines were showing up on my phone that “popping sounds” were heard at Trump’s rally.
Trump was “whisked” off the stage due to suspicious noises.
These aren’t your typical CNN headlines.
This was local new stations that come up on my phone, along with CNBC and various search engines.
But anyone who watched the video realized right away that those were extremely misleading headlines.
Someone just attempted to assassinate a former President of the United States of America and current Presidential candidate, Donald Trump.
And what did we get in return…
A true American patriot rising from the chaos.
Here’s how it affects his odd of winning the presidency and the implications for the market.
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Sure, news stations were slow to report the facts. They want to be correct when they publish news, at least of this magnitude.
So, give them the benefit of the doubt.
But now we know the facts.
Trump narrowly dodged an assassination attempt. This is not just an attack on Trump, republicans or politicians, but America as a whole.
Even though the democrats tampered down the rhetoric that likely got us here in the first place, with the Republican National Convention taking place Monday night, it only lasted a day before Trump was once again an enemy of the state.
Forget the fact that it was Biden’s Secret Service team that allowed a gunman to take the only vantage point during the rally and get off several rounds, killing a supporter and wounding Trump, before taking out the shooter.
It doesn’t get any more incompetent than that.
Reports, some not verified yet, have stated that the Secret Service sniper had the shooter in his sights for up to two minutes. The building the shooter climbed on top off was a known area pointed out by the Secret Service detail. The crowd was pointing out and shouting to police and Secret Service that a man was on the roof with a gun.
And yet Trump was still speaking without any additional precautions taking place.
I apologize for the rant, but this is unacceptable. The head of the Secret Service said it won’t happen again and has failed to resign.
When you fail at your job so severely, you shouldn’t be able to resign. You should be fired on the spot.
By the way, there are no conspiracies here.
I know they are floating around, but I’m just stating facts.
This is what happened.
But I digress.
Trump, emerging from the Secret Service detail, blood on his head and a fist in the air, gave the nation the rallying cry we didn’t know we needed – Fight! Fight! Fight!
And that’s how the 2024 election went down.
It’s Trumps.
And to top it off, he turned around and 72 hours later made a VP pick that was strategic in states he has to win.
He isn’t letting anything slip through the cracks.
It has also been reported that billionaire Elon Musk is set to donate up to $45 million per month to his campaign.
This election looks all but locked in for Trump to win by a wide margin come November.
And that’s where the market action comes in.
Trump Sparks 2024 Rally
With the event from the weekend giving Trump a huge boost that no one saw coming, this market has to adapt.
It has to adjust odds to be in favor of Trump winning the election, which is good news for the market and economy.
It’s why we can expect to see strength in various stocks as the republican party works to reduce regulations, lower taxes and stimulate economic growth here in America.
Don’t get me wrong, there’s a lot of headwinds Trump has to face with high rates and persistent inflation.
A reckoning of those two issues is still to come, which is the only unfortunate thing about Trump winning – we are still likely headed to a massive crash in the market and a recession.
But not in 2024.
This paves the way for stocks to rally over the next several months as we head towards November.
Trump’s rallying cry to get up and fight for America was received loud and clear acro the entire country.
Elections are all about energizing your base to get out and vote.
The weekend events did just that, plus expanded it to voters that were likely on the fence or didn’t have any plans to vote at all.
Get ready, the election rally is already underway.
Regards,
Chad Shoop, CMT
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