The indices gapped down about half a percent on Monday (on Hong Kong unrest, the contraction of GDP in the UK and a lack of positive spin to offset Friday’s bad news on the Trade War front).  However, the bulls continue to be resilient and they rebounded to cut the losses by more than half, leaving white candles across all major markets.

Among the news that helped were reports that BA will begin deliveries of its 737Max again in December and that KKR has formally asked WBA about purchasing it (in an unknown type of deal).  On this news, the DIA even managed to put in a new all-time high close (by a few cents).  This leaves us in a tight consolidation in the latest stair-step of the bull run.

There is no US economic news on tap again Tuesday, but there are three Fed speakers during the day.  The only earnings of note are DXC.

However, President Trump does make a mid-day speech today on Trade and International Commerce , which will likely touch on his China Trade War. It was also reported after-hours Monday by Politico that he may announce another six-month postponement of tariffs on European Autos. (Those tariffs were already postponed once in May.)

Overnight, Asian markets were mixed.  In Europe, markets are also mixed, but mostly green at this point.  As of 7:30 am, U.S. futures were pointing to a flat open, barely on the green side of even.

With the vast majority of earnings behind us, fear of global recession, twists in the China Trade War and (Impeachment-related or meant to distract from the Impeachment) political news are likely to drive news cycles and markets again this week.  Remember to be cautious and continue to take profits and move stops.

Ed

Swing-Trade Trade ideas for your consideration. Long – CARS, BHC, ARNC, SNA, MAS, DOV, PCAR, AMD, VLO, DD, FBHS, AMP, UTX, MS. Short – EFX, ETR, SO, KO, ATVI, SBUX, STZ. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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