U.S benchmarks are surging higher. The tables turned through yesterday morning after major three-star support held a retest at 7:00 am CT. Freshly upbeat rhetoric surrounding U.S and China trade has added a tailwind to yesterday’s trading session.
U.S benchmarks reversed early gains yesterday and the S&P finished more than 1% from what is now a psychological ceiling at 2900. We noted here in the first half of the week that nothing ultimately changed from Friday’s news of fresh tariffs escalating the trade war.
U.S benchmarks are clinging to yesterday’s recovery, but trade war uncertainties persist. We maintain the belief that this market is not thriving on bad economic news anymore, in fact, we believe recessionary-like data will encourage selling.
U.S benchmarks are snapping back from Friday’s bludgeoning after President Trump said China called him to restart trade talks and work towards a resolution. Although China has denied such a call.
U.S. benchmarks trading lower after China implements 10% tariff on crude oil.
U.S benchmarks are lingering at the highest level in a week, a crucial area of technical resistance. Looking at 2950 level to the upside in S&P 500.
 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.
Futures Magazine prepares traders for the week ahead in the markets with a list of events to watch.