Market Poised To Breakout - Economic Growth and Profits Are the Focus

One Option Trading Blog https://ift.tt/2KUgCph Posted 9:30 AM ET - The market wants to rally. Chinese tariffs were imposed on steel and aluminum today and China retaliated as promised. The FOMC minutes were very hawkish yesterday and the Fed wants to tighten aggressively. The S&P 500 rallied more than 20 points in the midst of this negative news. Earnings season starts next week and profits are in focus. One of Trump’s platforms was steel and aluminum tariffs so the first-round of action was expected. The next round could lead to a trade war. Investors believe that Trump will back off ahead of the November mid-term elections. …