U.S benchmarks are bouncing back from yesterday’s dull session. Price action achieved a strong wave of technical resistance Monday on the heels of three straight days of sharp gains.
U.S benchmarks are holding ground at unchanged after an exuberant three-day run to a strong wave of resistance; this is just about all the bulls can ask for at the onset of U.S trading hours.
U.S benchmarks are off to a strong start this week. One is welcome to credit this action to hopes on U.S and China trade negotiations, however, the move began after pinging major three-star support on Thursday and the reversal is much broader.
U.S benchmarks are sharply higher this morning and make no mistake, strong economic data yesterday offset budding fatigue that could have easily taken the S&P through strong support.
True volatility is increasing daily; after a sharper reversal yesterday of Tuesday’s reversal, the S&P finished down 3.1% and its Average Daily Range is above 50 for the first time since January.
President Trump announced he will delay additional tariffs on China until December and the risk-appetite responded. U.S benchmarks rallied sharply with the S&P gaining 1.8%.
U.S benchmarks are pointing lower with a number of factors weighing on sentiment.
U.S benchmarks are pointing lower to start the week with a number of factors weighing on sentiment.
After taking a two-day breather from the headlines, the trade war is again heating up. Given the depth of yesterday’s rally though, this is so far a minor pullback.
Remember, the S&P 500 futures were upbeat early yesterday before a sharp fallout just ahead of the bell.