S&P 500: Trump’s Rollback May Extend Exhaustion; Amid Repeat Of Slowdown Fear
Satendra Singh | Nov 11, 2019 02:08AM ET
On analysis of the movements of S&P 500 Futures, in different time frames, I find that S&P 500 futures were gaining good strength with speed developments on tariff trade war front during the last week, which turned the gloomy clouds of bearishness into growing bullish sentiments in global equity markets. Although, trade teams from China and the United States were busy till Thursday to finalize the final draft for resolving the 16 month long tariff trade tussle between the two major economies of the world, and were supposed to meet in December, but a sudden statement from the U.S. President Donald Trump on Friday that he has not agreed to rollbacks of U.S. tariffs sought by China; sparked fresh doubts about the possibilities of a successful deal on tariff trade front.
No doubt that Chinese reaction on this move may further extend the global economic slowdown fear even more. I find that this extension of tariff trade war once again tilt the sentiments of the investors completely in opposite direction; which had started to turn bullish amid growing hopes of an end to this 16 months long damaging tariff war. But this sudden tilt in sentiments from bullish to bearish may result in shocking jolt for the global equity markets.
I find that U.S. equity markets will definitely show the resultant move on the first trading session of the upcoming week; which may bring a gap-down start for most of the global equity indices on the first trading session of the upcoming week.
Finally, I conclude that the S&P 500 futures will start the upcoming week with a gap-down move. No doubt, if this gap-down push the S&P 500 futures below the level of 3077, which may drag down the S&P 500 future towards the level of 3030 during the upcoming week; amid growing concerns of global economic slowdown once again.
Watch my video on S&P 500 futures below.
https://youtu.be/4wd8-BONAdY
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