skip to page content

Stocks Jumped On China Trade Talks

Jeremy Lutz - MarketClub

Loading the player...

Hello traders everywhere. Stocks jumped higher at the open of trading after news broke that the U.S. and China started the latest round of trade talks with a phone call involving Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer, and Chinese Vice Premier Liu He. It's been reported by people familiar with the call that they discussed Chinese purchases of agricultural products and changes to fundamental Chinese economic policies. 

But the markets soon fell from those highs and have settled in what I would call muted trading today, which is a far cry from the recent volatility. 

The DOW finally joined the red monthly Trade Triangle club issuing a new one at 24,122.23 on Monday when it traded below 24,000 for the first time since June 28th of this year. Not to be outdone the S&P 500 issued a new red weekly Trade Triangle at 2,621.53 pushing the Chart Analysis Score to -100 once again. The NASDAQ remains in a sidelines position with a red monthly Trade Triangle and green weekly Trade Triangle. A move below 6,830.76 will trigger a red weekly Trade Triangle indicating that a move lower could be ahead. 

Crude oil has found support at the $50 level having traded close to that level for the last couple of weeks with very little movement. With the recent market volatility gold has been on a run issuing a green monthly Trade Triangle at $1252.00 last week pushing the Chart Analysis Score to +100. That move has also moved it back above it's 50-day MA for the second time this quarter. Look for the 200-day MA to provide a level resistance. 

Bitcoin continues to get pummeled and is now trading below the $3,400 level. That's a far cry from its all-time high levels of almost $20,000. Where will the price finally settle?

Key Levels To Watch This Week:

S&P 500 (CME:SP500): 2,800.18
Dow (INDEX:DJI): 25,980.21
NASDAQ (NASDAQ:COMP): 6,830.76
Gold (NYMEX:GC.G19): Today's Low
Crude Oil (NYMEX:CL.F19): 50.70
Bitcoin (BITCOIN:BITSTAMPUSD): 5,658.47 

Back to videos

Get Started With Your 30-Day MarketClub Trial Right Now

Get Started

© Copyright MarketClub™ All rights reserved | User Agreement

U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.