Financial news seems to be driving the price action this week.
However, there is something much bigger present: Markets need to take a breath and pullbacks to support are entirely normal (though they haven’t been the norm recently).
The US – China trade deal has been in the news every day this week and appears to be causing the uptick in volatility.
The deal should get done but timing and details are getting thrown off. The best we can do as traders is to follow the price action.
Weekly price support is on watch into today’s close. This follows yesterday’s gap fill.
In today’s video we discuss the relevance of key price supports and resistance levels on the S&P 500, Nasdaq, Dow Industrials, Gold, and Crude Oil (all on the futures market).
Stock Market Futures Update – May 10, 2019
The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.