Phase 1 of the Trade Talks
The current rally in anticipation of a Trade War truce and progress on the many fronts of the US/China trade war have carried the ES, NQ, and YM to their (nearly) overbought levels once again…
The current rally in anticipation of a Trade War truce and progress on the many fronts of the US/China trade war have carried the ES, NQ, and YM to their (nearly) overbought levels once again…
Is this violent volatile range truly news-driven, or is there something else at play here?
I don’t look to the tweets, headlines, or the stock market… take a look at the message the soybean market and US dollar/China yuan are sending as the word is that “China talks went very well today”.
The chop is still bearish on the broader averages, but in the video I take another step past the averages to the heavily weighted sectors and where opportunities and relative strength are presenting an edge.