spx 5minWith all that said, it won’t mean much if there if the news coming out of Washington and the China delegation is that a deal was made. Instead, price action will soar higher and nullify this pattern. 

Heck, perhaps if the Chinese eats two cookies instead of one at lunch today, it will probably be worth 20 additional points on SPX. 

Meanwhile, small caps are really faltering and with it dragging down the rest of the market from its highs. Russell 2000 is even in danger of going red on the day (gasp!). 

My apologies on the sarcasm though, its been a long day so far, as the market continues to twist and turn at every  headline and news piece that hits the wire. They don’t even have to be true or breaking, and the market does cartwheels over it. This is no way to have to trade, and holding stocks, or at least a meaningful number of them, becomes a very precarious situation for us traders. 

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