News that the US and China were exploring a trade agreement behind the scene triggered off a
relief rally today, with the SPX rallying off the 200 day m/a trend support. Traders also liked the
double bottom on closing lows. SPX Daily
We will just have to see whether the two parties can up with a suitable compromise. In the mean-
time you can watch to see if the SPX can rally enough to reverse downtrends in the 25 day ma, and
the RSI, MACD and trend indicators. You need to take care here because the first attempt to 'buy
the dip' in early Feb. did not work, with this indicating a loss of the level of high confidence we
saw throughout last year and into Jan. of '18.
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