In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, observe more downside for US Equities again.
The fundamentals and sentiment behind these markets are looking quite negative for the time being. Of course, this can change quickly as recent price action can testify. The reason for this sentiment is due to the slightly negative expectation going into the upcoming trade talks between the US and China.
This, coupled with more negative than expected PPI and manufacturing data recently, has definitely put pressure on the stock markets. As a result, we like the S&P 500 lower below yesterday’s daily low of 2892. However, please note the monthly low is 2888 so better to sell below that level instead if possible. When looking at the NASDAQ-100, we like this market below 7600.
More Downside for US Equities Again – Full Video Analysis
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