The US is already saturated in debt… due to our financing a staggering amount of social entitlement spending which comprises 64% of the Federal Budget.
The Fed managed to “paper over” the weakest recovery in 80 years with massive QE programs. As a result of this, for the last seven years, stocks "slept" through weak economic fundamentals. But not anymore...
In order to avoid a Government shutdown/ potential repeat of the 2013 Debt Ceiling Crisis, the same Congress that cannot even get an Obamacare Repeal off the ground is supposed to somehow work out a budget in a HANDFUL of sessions.
The bulls now need to ramp the market HARD to reignite the momentum here. If they don’t, we could see the market unwind all of the election night move very quickly.