September 4, 2019 | The Tariff-War Gift That Keeps on Giving

DaBoyz have goosed index futures Wednesday night on ginned-up news about trade talks resuming again in October. Raise your hand if you were unaware that the talks had stopped in the first place. Regardless, renewed ‘optimism’ about the outcome of the tariff war has once again sent shorts scrambling for cover. It has also reversed a two-day rally in gold, which has held up well despite having to swim upstream against the bullish mindset on Wall Street. Check out my target for the E-Mini S&Ps (below) if you want to see how high the S&Ps can go over the next day or so. An easy move past the target would imply that there is still significant buying power percolating beneath the surface.
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Rick Ackerman September 4th, 2019
Posted In: Rick's Picks