A Harlem Globetrotters game is entertaining but hardly unpredictable, as the Washington Generals are usually embarrassed and defeated. The current debt talks seem like a Harlem Globetrotters game to me. Everybody who has ever watched politicians before knows a deal will be reached and betting against is like betting on the Washington Generals. At worst a deal gets done a day or two after the deadline, in overtime.
There are plenty of reasons for this market to go lower but the debt talks are not one of them. The fact that we are gapping down by a percent because of the debt talks seems ludicrous to me. If you are sitting on the edge of your seat waiting to see what happens I will save you the suspense. A last minute deal will be made and it might surprise you to know that professional wrestling is not real as well.