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S&P 500: Will It Be A Timely Shot, While Bulls Bounce At Peak?
www.investing.com/analysis/sp-500-will-it-be-a-timely-shot-while-bulls-bounce-at-peak-200490846
S&P 500: Will It Be A Timely Shot, While Bulls Bounce At Peak?
By Satendra Singh | Dec 06, 2019 02:29PM ET On analysis of the steep bouncing move of S&P 500 Futures, in different time frames, I find that this seems to be a good time to shoot bulls while they look at overly enthusiastic strong job data. There is no doubt that the investors have pushed up the value of risk assets on the assumption that the American economy isn’t close to signaling a recession - a fear that has confronted investors amid an ongoing trade war.
I find that that the statement from White House economic adviser Larry Kudlow that the U.S. and China are “still close” to reaching a phase-one trade agreement, while the China look not too eager to move ahead if, the tariffs are not lowered shortly; even before phase one deal. This looks evident enough to make the possibilities of US-China deal still a rarest phenomenon. There is no doubt that a strong jobs report could reduce the urgency for a deal, given that escalating levies have failed to significantly dent growth. But it could also validate Federal Reserve Chairman Jerome Powell’s view that rates can stay on hold following three cuts.
I find that this sudden upward move in S&P 500 futures looks to be a good opportunity for bears to timely shoot bulls at close 3160 with a stop loss at 3200 for a target at 3070 during this month; while the December 15 still looks to be on the card to provide further clue on Sino-U.S. tariff trade tussle. Finally, I conclude that the global markets are still waiting for the next tweet from the Tariff Man.
Trading Strategy: Short Position
Entry Level : 3150 – 3160
Stop Loss : 3200 – 3210
Target (NYSE:TGT) : 3050 – 3060
Loss/Profit : 50/100 (1:2)
Disclaimer
1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.
2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.
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S&P 500: Will It Be A Timely Shot, While Bulls Bounce At Peak?
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