On Day 427 of the “good and easy to win” trade war with China, we get news that the parties will sit down again sometime in October. Naturally, there has been no deescalation of any kind lately. In fact, the actions and rhetoric have increased over the past week.
But, the algos could care less. VIX has dropped below its SMA200 and nothing else really matters. I wonder if anyone will notice that its SMA10 has pushed above its SMA20 again, the first time since July 30 — Day 0 of our analog.For our analog, it means the rally up to our next higher target — which was scheduled for last Friday — will occur three sessions late. This continues the trend of rallies being weaker and slower than anticipated.
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