...Trump's tax bill has passed the House en route to the Senate.
...The market will have to vote if it considers a fiscal irresponsible tax bill to be bullish.
...A tax bill that disproportionately benefits the rich and wealthy with lower propensity to spend is not going to benefit the economy much. Instead, if the tax bill continues to cause US yields to rise, that would significantly stymie economic activity.
A decisive break below 5,615 would mark a trend change and open the door to deeper downside risk.
Until then, the benefit of the doubt remains with the bulls.
