House Passes Tax Reform Bill; to be voted by Senate now

Republicans have been successful in passing the tax reform bill within the House of Representative. It will be now sent to the Senate for approval. The bill proposes a tax cut of $1.5 Trillion which means a significant drop in federal revenues.

In the weekly letter, we mentioned that Monday would be positive for global equities while Tuesday would be a day of correction. S&P500 made a low of 2684 after high of 2698. Wednesday is again expected to be a sideways/positive.

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