Well, most of my longs are in the red today (a few are bucking the red tide), and the shorts? Well, they are still green. So it gives me an excuse to post this hottie in green shorts as the featured image, and I guess do a little talking.
The Trump/China thing is what it is. I will simply remind you that the last time we had a smack down like this we were dealing with Italy and Trump/China noise. I am certainly not a perma-bull wise guy but merely pointing out that the market was expected to find resistance as noted on this chart previously and in NFTRH 503. Trump is such a handy trigger.
I don’t want to be cavalier because there is a notable negative signal building out there (relating directly to my short positions) but it would be wise for stock market players to respect the news cycle and its effect on markets along with the market’s support parameters. A big one was tested on Italy/Trump/China day a few weeks ago. There are new short-term parameters in play now, the first of which is at or just below 2740 (if SPX loses the EMA 10).
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