Investors have been closely watching the Republican National Convention hoping for signs that Mitt Romney and Paul Ryan could gain traction with the American public.
The stock market has hardly moved over the past three days as pros digest every word of every comment made in Tampa.
In fact, the S&P has been trading in a fairly tight range over the last three weeks, finding support at 1,400 but unable to trade much above the April high of 1,422.38, a level of resistance.
The conventional wisdom is that as the party of business, if the Republicans can pull ahead and win the White House, the S&P will surge.
However, that may not be the case this time around.
Ahead of the broadcast, top hedge fund manager and Fast Money trader Keith McCullough of Hedgeye explained to us that “Paul Ryan’s speech had a big impact on global currency markets. It stopped the US dollar from going down.”