After a triple-digit loss on the Dow yesterday, the markets made all those losses back today, and then some. The healthcare bill is on the front burner this week as doubts to its passing continue to grow. If the bill doesn't even hit the floor of Congress, the GOP may just move on to tax reform.
The Affordable Care Act (Obamacare) is crumbling from its own weight and the situation may become more dire if things are not done this year. Already, over 1000 counties in the US have only 1 insurer, and 40 have none. This will only increase if nothing is done. As premiums skyrocket, many are considering to just pay the penalty and opt out of insurance, which will save their families thousands. This, of course, will reduce the amount of money to subsidize those that need it.
It is a very complicated issue and not everyone will be happy with its final form, whatever that may be. The hope that Congress will get something passed before the July 4th break is fading fast.
Despite these problems, the markets remain near record levels. We are being patient and will alert our subscribers with a trade alert as soon as the opportunity presents itself.
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