Trump Signs Pro Democracy Bill.. S+P Futures Didn't Like That
President Trump was forced to sign into law last night
a US backed congressional bill supporting the pro democracy movement in Hong Kong,
This was done, despite the wishes of China not to do so,
S+P 500 futures dropped like a stone on the announcement
from an all time Dec 2019 ES high of 3155.50
Note the 15 minute chart,in Friday November 29 trading,
showing the sudden sharp price breakdown on the news,
The futures market is now questioning what will China do next in reprisal.
Any news item that has material impact on the proposed US/China trade deal,moves the markets unlike anything else right now.
To say that the futures market is "hostage" to the latest news coming out of China is an understatement.
The big boys with their big money" will,have a chance to react next,,when trading resumes in the US on Friday.
Don't expect it to be a pretty picture.
THE_UNWIND
11/28/19
MOUNTAINS/ NEW YORK
a US backed congressional bill supporting the pro democracy movement in Hong Kong,
This was done, despite the wishes of China not to do so,
S+P 500 futures dropped like a stone on the announcement
from an all time Dec 2019 ES high of 3155.50
Note the 15 minute chart,in Friday November 29 trading,
showing the sudden sharp price breakdown on the news,
The futures market is now questioning what will China do next in reprisal.
Any news item that has material impact on the proposed US/China trade deal,moves the markets unlike anything else right now.
To say that the futures market is "hostage" to the latest news coming out of China is an understatement.
The big boys with their big money" will,have a chance to react next,,when trading resumes in the US on Friday.
Don't expect it to be a pretty picture.
THE_UNWIND
11/28/19
MOUNTAINS/ NEW YORK