Dip to 7450 7435 today | Can the S&P bulls defend 2900 | Trading analysis education signals alerts

7320 still needs to be broken for a rise to 7350 7390 | Tariff wars | Market analysis

4th September 2018

The bulls managed to push up to 7500 yesterday with the US closed and Friday’s support area of 7425 remaining intact for the moment. Asian equity-index futures were mixed, indicating a muted open. Currencies were steady.  Argentine stocks led global equities lower and emerging currencies joined the decline, offering no reprieve for investors despite the U.S. holiday. U.S. equity futures climbed on Monday and stocks closed steady in Europe.  The pound weakened as the U.K.’s flagship Brexit proposal came under attack at home and in Brussels.

Trump’s trade negotiators are in difficult talks with their Canadian counterparts over a revision of the North American Free Trade Agreement already agreed to by the U.S. and Mexico. As soon as Thursday, Trump may also implement tariffs on as much as $200 billion in additional Chinese products, escalating his trade war with the Asian powerhouse.


FTSE 100 Trading Signals, Forecast and Prediction

The Asian markets and also Australia had a bearish Tuesday session as emerging market worries persisted. The US returns from the Labor Day holiday today as well with the Dow hovering around the 26000 level, and the S&P500 above 2900.

With the rise yesterday from the 7425 support area, the 2 hour chart is showing support now at 7451 and is looking bullish once again.

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