The President defended his business dealings and his children in an interview with CNBC. He did this while preparing to celebrate America's 250th birthday with fireworks on the National Mall. These two facts appeared in the same article because journalism stopped trying decades ago.
The interview happened. Words were exchanged. CNBC recorded them. Someone will now buy stock based on what was said. That person will lose money not because of the interview but because they're the kind of person who buys stock based on interviews.
Trump defended his children. His children presumably needed defending. The technical indicators on this situation include a moving average of previous defenses, a relative strength index of how many times we've been here before, and a Fibonacci retracement to 1776 when none of this mattered because we were still using muskets.
The 250th birthday party will feature fireworks. Fireworks go up and then explode into nothing. This is also what happens to your portfolio when you trade based on what presidents say to financial news networks.
July 4th falls on a Friday this year. The markets are closed. Retail traders will spend the day refreshing their brokerage apps anyway because they've forgotten what life feels like without the constant sensation of losing money in real time.
The National Mall will host the event. Thousands will gather. Zero of them will check the VIX beforehand. This is fine. The VIX doesn't predict fireworks and it doesn't predict anything else either, but at least fireworks are pretty when they fail.
CNBC got the exclusive. Every other network got to cover something else. Everyone lost.
Photo by History in HD on Unsplash
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