reluctantplumber
Short

Phase one trade deal - sell the news?

SPCFD:SPX   S&P 500 Index
The market has become quick to price news events and likely has done the same with the trade deal signing. Q4 earnings may also bring some pressure as the S&P is running hot on multiples. Defense is warranted.
I'm waiting for a blow off top as well and since no one has seen the actual trade deal yet a sell the news event is a big possibility. But on the other hand i feel like earnings is going to reprice a lot of names which could start a general deflation of prices.
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@merkd1904, I agree
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ecramer merkd1904
@merkd1904,
At the moment this is looking like a blow off top.
We might go a little bit higher. But I still think we get a correction near term.
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@ecramer, A blow off top, maybe I really don't know. I have been looking for the big one for about three years. Even with careful thought and consideration, its hard to understand where else money can go, and of course that is the goal for Central Banks.

I'm certainly in agreement as far as weakness on an intermediate basis. If the S&P wants to go much above 3300 we need a correction.
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