China Trade Deal Nears Implosion as Trump Deadline Nears
Goldman Sach Stock Chart 5.9.19
Shares sink as U.S.-China trade deal talks go to the wire
LONDON (Reuters) – World shares tumbled for a fourth day running on Thursday after a warning from U.S. President Donald Trump that a long-worked-on trade deal with China was in serious danger.
Chinese Vice Premier Liu He was heading to Washington for two days of talks but Trump’s insistence that China “broke the deal”, and then Beijing’s response that it would retaliate against tariffs were ratcheting up the stakes.
reuters.com/china-trade-deal-deadline
Six reasons why Trump should not start a trade war
Better first quarter growth and low inflation may make it seem like now is a good time for the U.S. economy to weather a trade war, but Don Rissmiller, chief economist at Strategas Research, says there are six factors he's identified that show it's not really a good time at all.
Trade Ideas 5.9.19
Back in the early 2000's during the dot-com boom a popular commercial filled many TV slots on CNBC.
Channelingstocks.com was a commercial we routinely made fun of. Why would we look for stocks stuck in a range when these NASDAQ stocks were flying up and down every day, every hour?
Well times change, the markets change, trading goals change. Low risk trade setups offer opportunities to make money without much down side, However, keep in mind knowing your risk does not mean probability for profit. It simply means you know your potential loss.
This is different from having a high expectation for profit. Very different.
The chart of GS Goldman Sachs shows that $200 has repeatedly held as support or resistance, for over five months. Today we have the setup to buy near 200 and the 50 SMA. Double support points on the chart. With $208 as the profit target.
BEARISH ORDER FLOW
If you're ok with looking for a short sale instead (based on the negative news) here are some scans to give you ideas.
