President Trump Predicts ‘Monumental’ Tax Bill Will Pass

President Trump Predicts ‘Monumental’ Tax Bill Will Pass

President Trump Predicts ‘Monumental’ Tax Bill Will Pass

$DIA, $SPY, $QQQ, $VXX

  • US Stocks Hit New Records As Tax Reform Looks Likely

Friday, President Donald Trump says he has seen the latest version of the $1.5-T tax overhaul package moving through Congress and he predicts it will do “very, very well.”

The President told reporters Republicans should be in position to pass the package as early as next week and says it will be “monumental.”

President Trump also addressed prospects for increasing the child tax credit, one of the final sticking points in negotiating the package.

He said that where Democrats have “done nothing” for children, the plan will include “a tremendous child tax credit and it is increasing on a daily basis.”

The size of the child tax credit was one of the final points being ironed out as GOP leaders drive to push through their big tax package.

The GOP leaders will usher the bill through Congress next week, handing President Trump this major legislative victory by Christmas.

Late Friday. Congressional Republicans revealed the final details of their agreed-upon tax-overhaul legislation. It is the culmination of a 6-week legislative run designed to deliver a major policy victory for the GOP and President Donald Trump before year’s end.

Friday, the US major stock market indexes finished at: DJIA +143.08 at 24651.74, NAS Comp +80.06 at 6936.59, S&P 500 +23.80 at 2675.81

Volume: Trade on the NYSE came in at: 888-M/shares exchanged hands

  • NAS Comp +28.9% YTD
  • DJIA +24.7% YTD
  • S&P 500 +19.5% YTD
  • Russell 2000 +12.8% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.66) Very Bullish (0.56) Very Bullish (0.83) Very Bullish (0.58)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Very Bullish (0.61) Very Bullish (0.67) Very Bullish (0.58) Very Bullish (0.58)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Very Bullish (0.54) Bullish (0.39) Very Bullish (0.58) Very Bullish (0.64)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.42) Bearish (-0.45) Very Bearish (-0.57) Bearish (-0.25)

MAGA

Have a terrific weekend.

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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