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Tuesday, October 2, 2018

Market Rally Needs Fantastic Earnings - Global Backdrop Is Deteriorating


One Option Trading Blog https://ift.tt/2y6KRE6 Posted 9:30 AM ET - Yesterday the S&P 500 tried to challenge the all-time high but it did not have enough impetus to breakout. The US trade deal with Canada was largely priced into the market and the euphoria quickly wore off. As I mentioned in my comments there are too many headwinds. Stocks retreated from the high of the day and we are seeing selling pressure this morning. Trade has been a primary concern and the backdrop is improving. USMCA will replace NAFTA and negotiations with South Korea and Japan are heading in the right direction. Europe is very fragmented …

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