FYI: One thing technicals cannot account for are news events, and Tuesday’s relaxation of fears about #TRADEWARS(tm) due to a speech in China drove indexes to a very nice rally that day. That said we’ve stated that fear has been a bit overblown and emotional as we are in the bluster and trial balloon stage.
Monday, Trump tweeted “China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal & a deal will be made on Intellectual Property.” Tuesday, Chinese President Xi Jinping made a speech touting plans to give foreign companies greater access to financial and manufacturing sectors. He also talked about a cut in tariffs on car imports and an improvement in protection of intellectual property, among other measures.
Regards,
Ted
https://www.stocktrader.com/2018/04/15/weekly-market-recap-apr-15-2018/
