Wall of Worry Powell Trump China
The Powell, Trump, China wall of worry are a few of the troubles the market is dealing with. Powell to speak today and the upcoming Fed meeting Dec. 19 may shed positive light or lay a dark cloud over the market. The G20, Trump and China meeting might remove some of the walls of worry or add more. The technical fracture the market is also a problem and will take time to resolve.
Another positive day yesterday for the SPY, about $273.25 remains the number the bulls need to beat before they can advance. Above $265.45 keeps the bull from drowning but struggling.
BABA RBB Setup
We are already long BABA
BABA has been flirting the RBB set up with price closing over the 50-SMA the past 2-days. The bottom construction looks solid with an Inverted Head and Shoulder formation. The weekly chart found support on the Dotted Duece and has now closed back above the weekly T-Line. The typical RBB trade target direction is the 200-SMA. BABA has been added as a trade candidate to add to our LTA-Live Trading Alerts Real Time Market Scanner watchlist for a buying alert. BABA bullish above $156.502, stop below $147.65
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