S&P Approaches Key Level After Trump Sticks To His Word
Fiona Cincotta May 10, 2019 3:32 PM
Trade deal optimism lifted the FTSE along with other European bourses on Friday, even after Trump’s trade tariff increases came into effect and China vowed to retaliate.
Trade deal optimism lifted the FTSE along with other European bourses on Friday, even after Trump’s trade tariff increases came into effect and China vowed to retaliate.
Whilst stocks in Europe rebounded, snapping a four-day losing streak, traders on Wall Street saw the glass half empty, sending stocks lower for a fifth consecutive session.
Will 2836 hold?
The S&P is trading down 0.8% at 2845. A drop below yesterday’s low of 2836 will greatly increase the chances of 2775 being reached, or worse. On the other hand, should we see the S&P hold above 2836, the market could turn natural or even bullish.

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