The S&P 500 (SPX) moved lower as the U.S. and China engaged in a second day of trade talks. $16 billion of tariffs were put in place early yesterday on a wide ranging list of items, spanning Chinese machinery and chemicals to U.S. engines and fish meal. Robust corporate earnings and strong economic numbers have helped the S&P 500 rise more than 5% since the end of June, putting it on pace for its best three month stretch of the year. According to analysts, tariffs have not had a severe negative effect on corporate profits, so far. Minutes from the latest Fed meeting show that trade tensions have risen to the top of the central bank’s list of concerns.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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