The SPX chart is showing a clear break out to the upside wich is now going to be retested. SPX is not the only stockmarket index showing a major break out. The downtrend line re-test should be succesfull and SPX/SPX should gain momentum to the upside in the next tradingdays, unexpectedly.
On monday Europe could had follow the US Stockmarkets - but they didn´t. By end of the week Europe is up and US Indices are down.
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SPY: Re-Entry @ 2.685-2.695, manually. Expected time to buy: Friday morning to Monday morning (US Time).
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MARKETS: Europe "up", USA "down" - "decoupling" is not often to see - but it´s seen today.
Stocks open lower as rates rise, Cisco shares drop
Stocks opened lower on Thursday after a drop in Cisco Systems shares. Equities were also pressured by the continuing assent of interest rates multiyear highs.
The Dow Jones industrial average fell 31 points at the open, while the S&P 500 pulled back 0.1 percent as tech shares slipped. The Nasdaq composite declined 0.3 percent.
Cisco dropped more than 3.5 percent after the company reported weaker-than-expected sales for its key services business. The stock was also the worst-performer on the Dow. The benchmark 10-year Treasury note yield rose above 3.1 percent for the first time since 2011, while the two-year yield hovered around its highest levels in a decade. "Interest rate sensitivity has been the most significant negative factor over this period. Given the substantial repricing of short term interest rates since September this is hardly surprising," Michael Shaoul, chairman and CEO of Marketfield Asset Management, wrote in a note. cnbc.com/2018/05/17/us-stocks-treasury-yields-climb.html
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DAX DE 30
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Re entry @ 2.725. Upside Momentum is much stronger than estimated.
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Re entry @ 2.725. Upside Momentum is much stronger than estimated.
Trade closed manually
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Trade Closed @ 2.720. Momentum is fading. SPX probably now starting the re-test of the downtrend line.
2.725 Trade Opened 2.750 Trade Closed ------------------------ ..... 5 USD net loss or 25/50 pips.
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Trade re opened @ 2.730 (May 21nd).
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China's state council says to cut import tariffs on consumer goods: state media
Geopolitics: "Trumps Trade War" . Republicans in tight U.S. House races feel heat from Mexican tariffs Mexican tariffs are roiling U.S. congressional campaigns in states where U.S. exporters could take a hit and President Donald Trump's Republicans face tough races in November congressional elections.
Mexico announced the levies this week in retaliation to Trump's decision to slap tariffs on metal imports from Mexico and other countries. They fall on only about $3 billion in U.S. exports, but were crafted to have a "very specific" focus on vulnerable Republicans, said one senior Mexican official who asked not to be named.
MARKETS: Wall Street rises on economic data, easing trade worries Wall Street indexes rallied on Wednesday with help from financial stocks as investors eyed strong economic data and trade war fears took a back seat while the Nasdaq registered its third straight record closing high. White House economic adviser Larry Kudlow said late in the trading day that U.S. President Donald Trump will meet French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau during a G7 summit this week. While he said Trump is not backing down from the tough line he has taken on trade, the comments appeared to calm investors. Earlier reports citing sources said U.S. officials were weighing an offer by China to import an extra $70 billion of American goods over a year as Beijing tries to defuse a potential trade war. "The trade rhetoric has once again dialed back," said Mona Mahajan, U.S. Investment Strategist, Allianz (DE:ALVG) Global Investors, New York. "It's the on-again off-again threat of protectionism. It's off again." investing.com/news/stock-market-news/futures-rise-on-signs-of-cooling-trade-tensions-1482317
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SPY @ 2.780 - short term target almost reached:
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Trumps Trade War: . Trump says trade should be 'tariff free' between G-7 nations
The president did not elaborate on how or whether the United States would reduce its tariff barriers. Instead, he pointed to Canadian duties on U.S. dairy. Trump's statements come amid historic tensions over trade between the United States and the other G-7 nations, which include America's closest allies. Trump's decision to impose steel and aluminum tariffs on the G-7 countries risks isolating the United States at the summit. cnbc.com/2018/06/09/trump-says-at-g-7-summit-trade-should-be-tariff-free-barrier-free-subsidy-free.html
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Trumps Trade War:
US signs G-7 declaration calling for tariff reductions after tense summit with allies
There had been widespread speculation that the G-7 nations would not issue a joint communique that included the United States. During a press conference earlier in the day, Trump threatened to stop trading with countries that do not reduce barriers to American exports. Trump left the summit early to fly to Singapore, where he is set to meet with North Korean leader Kim Jong Un.
Dude you got stopped out right at the rally point. Bravo!
MRZF
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The entry was nice and the out was magnificent , i leaned to track the chart from your in and out and i had study it well , so thank you
SwissView
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@MRZF, The Chart is just an idea. If ever SPY takes another track than new decissions are neccessary. I guess everybody might understand that it is impossible to draw a line wich might predict precisely what might happen in the future. The reason to draw lines like this is simple: It needs less time to explain future expectations and probably it is much easier to understand. We all are under significant time pressure and everything what could save a bit time only is very, very helpfull for all of us - i hope.
MRZF
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@SwissView sure sir i agree 100% also i am still learning by watching and i will keep do , may be soon i can take my trend
SwissView
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@MRZF, never follow "blind" something. Its your money. The most important issue is: Trading comes first - Tradingview second or last. At times the time is missing for updates. It will happen for sure that a trade is allready closed but the update is missing here. No one can update all trading ideas realtime. So watch out if ever you follow traders. I try to follow my responsibility but i have read a lot of trading ideas wich are never updated if ever the market went in other directions than expected. I post my losses same i do post any gains.
MRZF
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@SwissView, i am just learning , also everyone should trust in him self , so sure i am not flowing any one until i will be ready
I have tried to catch the swing on DJI over since last Friday, and luckily I was successful yesterday. Based on your opinion this is only a short bearish correction. Thanks for the very good track history of all your trading decisions. You know what you are doing.
SwissView
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@JaDeVin, i hope i do. For me right now it looks like we see a re-test of the broken trendline. The S&P-500 Midcap break out is supportive. Also supportive is that golbaly major breakouts occur simulaneously right now. SPX might not drop deeper the next tradingdays. If ever than only by few points wich would limit our risk.