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Being read as a pre-announcement that the phase 1 part of the trade talks is a done deal.

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China responding in agreement - no tariff increase on 15th Dec plus a cut to existing tariffs.

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Dax and Dow break up through near term resistance, Dow and S&P into new all time highs. China markets up 2% on signing of trade deal. GBPUSD up over 2% following the Conservative win in the UK election.

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McConnell: 'There's no chance' Trump is removed from office

“The case is so darn weak coming from the House,” the Senate Majority Leader said on Thursday. “We know how it's going to end.”

 Senate Majority Leader Mitch McConnell

https://www.nbcnews.com/politics/trump-impeachment-inquiry/mcconnell-there-s-no-chance-trump-removed-office-n1101286

 

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It looks like Wall Street has got into a rhythm with Trump, he is the perfect catalyst for retracements and new rallies.

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8 minutes ago, dmedin said:

It looks like Wall Street has got into a rhythm with Trump, he is the perfect catalyst for retracements and new rallies.

The markets are supposed to react to presidential and central bank initiatives. 

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Slight cautionary note going into the weekend is that President Xi has actually signed the phase 1 deal himself yet.

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Ha, got the last post in just in time. (just spotted the last post should have said 'hasn't' signed yet)

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Edited by Caseynotes
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China may have one more trick up it's sleeve. 

China commerce ministry to hold a press briefing at 2 - 3 pm GMT (10:30pm local time so must be important).

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According to Reuters, Trump did an about-face and said WSJ got it all wrong.

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2 minutes ago, dmedin said:

According to Reuters, Trump did an about-face and said WSJ got it all wrong.

He signed the deal last night, the WSJ claimed the deal involved a massive slashing of tariffs, that was what Trump claimed was fake news, he said they needed to find a better leaker.

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Massive swings and bearish candles forming on the hourly chart.  Untradeable :(

 

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This is just buy the rumour, sell the news ...

Think you have to be in Trump's inner circle to benefit from it.

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S&P has tested that trend line and is now blasting into outer space.  🥳

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I think those swings were tradeable with a reduced position size on the Nikkei which tends to respect weekly pivots during European and American trading hours.

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S&P moving back up to the highs this morning, Dow and Dax in a similar position. Ftse within reach of key resistance and China up on some unexpectedly good indy production data early this morning.

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Dow and Dax looking to follow the S&P and put recent resistance behind them and continue up the chart. Big break by Ftse yesterday while China approaches it's own near term resistance.

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Ryan Detrick, CMT @RyanDetrick

3d

Want to make a bear angry? Point out the NYSE has gone nowhere for nearly two years, but finally made new highs yesterday. Future returns when it goes at least a year without new all-time highs? Since 1980, higher 6 months later 7 of 8 and higher 12 months later every time.

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A pause day yesterday so no doubt all the permachickens will be out again today to tell us that the market has reached a pivotal point and is about to rollover and die. yawn.

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The US Senates partisan political stunt of voting to impeach Trump has truly backfired as his approval rating has increased since the hearings began and Stocks and USD don't care. Republican leaders have said not a single Republican will vote for his removal from office and in the betting for the 2020 election race Trump has surged into an even greater lead while all Dem candidates have all fallen.

Dow and S&P remain in touch with the highs, Ftse still at the breakout highs from earlier in the week. China still trapped under key resistance.

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