Image Source: PixabayWell, the whole trade war thing was a total joke. Everyone’s hair was bursting into flames about the tariffs, retaliatory tariffs, etc., but with some vague promises about sending personnel to keep an eye on the borders, both Canada and Mexico were left off the hook. Added to this, Wall Street darling Palantir (PLTR) shot up like a rocket after earnings were announced
The lows were made basically in the first few moments of Sunday’s opening bell. A massive counter-attack has taken place, and continues to take place. I would point out, however, that all this has managed to achieve is to fill the gap, basically undoing the weekend news. But it isn’t like some grand new world order is on stage.
The same holds true for the S&P 500 futures.
I took some quick profits early on Monday, but I pushed back into them later in the day. Keep a close eye on EFA, which pretty much opened at its lows and rallied all day long. So long as we don’t push past the price gap represented by the dashed red line, this remains a very intriguing opportunity.
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