NY raising the bid for the open...

Markets in painful chop as the noise around a trade deal continues to dominate the flows. Risk sold off as comments from Trump overnight on China “breaking the deal” … it is worth noting this was at a campaign rally so aimed at pleasing a nationalist audience. Whilst uncertainty has risen my base case remains for a conclusion of negotiations this week or next with a summit announcement for Late May / Early June.

This will be enough for Equities to find a temporary floor and put a smile to the dip buyers. Initial targets come into play for the NY roll on the Weekly open with extension as far as the Monthly.

Best of luck all those positioned for the trade negotiations and those wanting to engage.

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Getting caught in the middle of anvils falling ... my view for the open was wrong. Quick and painless.

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Damn...