SP1!

Risk-off appetite is likely to follow this spectacular push through ATH across the major US markets. Trade concerns and elevated US risks.

With Powell taking a slight hawkish stance in relation to further cuts, and president Trump refusing to decide on a “potential date or location for signing a ‘phase one’ trade agreement with China” (Holt, Scotiabank) I expect markets to follow this pattern with a healthy retrace of approximately 6%.

|Rise like a Phoenix from the Ashes|