The Supreme Court rejected Trump-backed congressional maps in Missouri. The old maps stay. November midterms proceed as scheduled. Retail traders who thought this would move markets are now googling "how does redistricting affect my Robinhood account."
Missouri wanted new lines. Trump wanted new lines. The Court said no. This marks the second time the Court has rejected the push, which means someone actually tried twice to get the same answer and expected something different. That's not determination. That's just stupid.
Congressional maps don't move SPY. They don't move QQQ. They don't move anything except the career prospects of state legislators who can't draw a district that looks like anything other than a drunk snake eating itself. But some genius out there definitely shorted something based on this news. Probably a regional banking ETF. Probably while wearing a Patagonia vest.
The ruling clears the way for old maps, which is legal speak for "nothing changes." Markets don't care about nothing changing. Markets barely care about something changing. Yet here you are, reading about the Supreme Court rejecting redistricting maps like it's going to help you time your entry on Tesla calls.
Trump backed the maps. The Court ignored him. This is somehow supposed to be bullish or bearish depending on which Discord server you're in. It's neither. It's a footnote in a legal filing that affects voter districts in one state during a midterm cycle that happened years ago.
Every second you spent thinking this headline mattered to your portfolio is a second you could have spent learning that technical analysis doesn't work either, but at least charts are pretty.
Photo by Ioann-Mark Kuznietsov on Unsplash
Leave a Comment