fyi:
SCOTUSblog
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New from Amy Howe: The Supreme Court on Wednesday seemed skeptical of President Donald Trump’s authority to impose sweeping tariffs in a series of executive orders earlier this year.

I know it was addressed to Randy but I asked a similar question yesterday. Basically, what damage has been done to the market by the shutdown? Almost none. So ending the shutdown shouldn’t cause too much of a pop. Also the charts, the charts, the charts.

I’m of the opinion that there won’t be an end to the shutdown until the market takes a dump. A 5% drop in one day will get things moving. Also next week will be the second paycheck missed by air traffic controllers. If they stop coming to work and flights are grounded, the market would take notice.

A much larger impact to the economy and market is the supreme court hearing if Trumps tariffs are legal. If they get struck down, that would be a major news event.

What if any bump up from the government restart make?

Good point as there are a bunch of gaps in close proximity on QQQ & SPY right now. As to my reply to your previous question in this comment thread, that 30bp overshoot of T1 today was capped by Wed’s spike high, which is the high-point of the Mon-Tue gap this week. Traders are playing ping-pong with QQQ & SPY off these gaps, all the while in a (very) near-term downtrend (lower lows & lower highs) since the sell signal from that 15-min bearish rising wedge pattern I highlighted on QQQ last week.

Not so much. QQQ literally went a whopping 30 basis points (a BP is 1/100th of a percent) above T1 today & closed back under it so while not technically a “perfect” reversal off T1, close enough for gov’t work (especially as the shutdown continues).

I reviewed & updated the chart of all the components of SOXX today & plan to do a video on the sector tmrw but basically, QQQ has already triggered a sell signal on the trendline (off the April lows) breakdown (and subsequent backtest & rejection) with SOXX kissing the comparable trendline both yesterday & today with a breakdown & “death-blow” to the stock market appearing both likely & imminent at this time.

This is just an unprofessional opinion….
If you are a “gap filler” believer…
QQQ may try to fill the gap from November 3-4 up to 629.85…
or ( in my opinion) go even further.
But then again, I’m just the resident bull. lol :)