SPY Upbeat On Positive Macro Data

Target $280

Commento:

Stocks rally on trade hopes, tentative deal avoiding gov shutdown
Stocks scored broad gains as investors cheered the potential for a U.S.-China trade deal AND an agreement in principle among U.S. lawmakers to avoid a partial government shutdown.
“The rally you see now indicates the market thinks there’s progress” toward a U.S.-China trade deal, says Abe Sheikh, chief investment officer of Cougar Global Investments. “But if there isn’t progress, there will be shocks felt through the market.”
Ten of the 11 sectors in the S&P 500 posted gains, with communications, industrial, technology, consumer discretionary and material stocks all rising more than 1%.

Trade chiuso: obiettivo raggiunto:

Target reached for a 10 point swing on SPY. Now we must tread carefully as market nears the highs