Golden-Dragon

S&P500 - DAILY CHART

TVC:SPX   S&P 500 Index
Hi, today we are going to talk about S&P 500 and its current landscape.
The U.S markets today can breathe in relief as China retaliation for Trump has signed the Hong Kong Human Rights and Democracy Act of 2019, which implies that U.S officials would have to yearly verify if Hong Kong has sufficient autonomy from the China mainland. Last Friday, the U.S markets aimed lower levels as was expected that China could walk back on Trade Deal negotiations or even flip the table throwing all the progress made into the trash. However, fortunately, the Chinese government, for now, restrained their rebuke to prohibit U.S Navy ships from visiting Hong Kon port and unclarified sanctions over some rights organizations that already basically banned from China mainland. The choice of China for these targets might demonstrate that China it's seriously willing to go further in the Trade Negotiations, which along with strong economic data report from China, is favorable as a whole for today's market environment.
The only threat in the way could be Trump's statement that will reinstate Steel and Aluminum tariffs for Brazil and Argentina since, in his perspective, both countries are devaluating their currencies to be "unfairly" competitive in the sale of agricultural goods, which is negative for U.S farmers. We must remember that since the beginning of the Trade War, China has stepped into the gas pedal in buying Brazilian agricultural goods, and the Brazilian currency has reached new record lows against the U.S dollar, wich theoretically bases Trump's argument. This could be bad news for the market if imply a new Trade War front against these Latam countries.
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