Dec 1st weekend Report

/in /by

Is it a Trade War that will continue as time moves forward, or will there be an agreement of terms that both sides can live with? All eyes seem to be on the  G20 meeting this weekend for the answer to that question, since it already seems to be having implications on how these markets trade going forward.   Just like any war, trade wars often have casualties along the way, and these markets have been very choppy lately.

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EDIT:  This just in...  (Bloomberg) -- Stock markets will close Wednesday for a national day of mourning to honor former President George H.W. Bush.

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Let's review the various Market Sectors to look at The Big Picture and see how they traded this past week...

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SPX - This is what I was watching for,  and then a break to a lower low to the ICL,  or if the ICL is in place from October, a higher low may happen on the next drop.

#1 - Nov 27 I drew this -   A run to the 50sma/ 200 sma, and a possible drop to a lower low.

#2 Or was an OCT ICL is in place?  A break higher after the  G20 meeting results, and then a drop to a higher low.   EITHER WAY,  these markets can remain choppy & difficult. 

 

We are here now

 

SPX - I expected the bounce to this area, and then we need to watch price action at the resistance.  It just happens to fall at the timing for the G20 meeting.

 

Lets continue...

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