BREAKING: Trump says China "broke the deal" and "they’ll be paying" https://bloom.bg/2VlIRXb
The talks are over? Or, is this a prelude to the Asian session that may cause those markets to tanks?
Anyway, a fairly choppy session today but why complain since it provided many daytrading
opportunities. So, Thursday & Friday will be critical for the ST and IT direction of the market since there would be
news from the Trade Deal talks that may be decisive.
Or, it could be another kick-the-can-down-the-road when both sides say the talks were successful, they agreed on a few points, they will continue talking, and Trump will cancel the new Tariffs. This is the most likely outcome. In any case, unless the talks are totally broken down, the market will view it as bullish and we could get new SPX highs by the end of May. On the other hand, a breakdown and failure of the talks will lead to tariffs and at least another 5% down.