The last five days have seen a few cardiac moments, and while the major indices have managed to climb off the canvass, the rally is more susceptible to the downside than it’s been in a long time.  The punch to the gut continues to come from Washington, D.C. and unshakable angst over the tax bill. 

The good news is this kind of shakeup is long overdue, but if the GOP blows it, the rally could take a bigger hit than I was considering just a couple weeks ago.  It’s not solely the idea of less economic impetus, but it would be the realization of ineptitude that means failure on all critical parts of the Trump agenda that could move America forward.

For the record, I think a bill gets done.  But, I see it coming down to the wire, and the final product will not be what was promised.  But, we’ll cheer it the way we cheer news as a sign of more accomplishments down the road.

Dow Jones Industrial Average