All four indices are up decisively to kick things off this morning.  The S&P, Dow, Nasdaq, and Russell are all up over one percent in the wake of the open. News of a secret meeting between China and the U.S. in Hawaii to discuss trade has been received as a positive development and is driving markets higher. On the flip side of the China news, cases of coronavirus continue to spike as states reopen and availability of testing increases.  The cases number seems to be a point of contention for market participants. Some see the spike in positive tests as an extremely bearish development. If reopening local economies is going to lead to more people getting sick, then perhaps the lockdowns should continue. On the other hand, some seem not to care too much about the number of positive tests as much as they do about hospitalizations and death counts. I’m not entirely sure who is right, but the market seems to be more worried about the latter.

E-mini S&P 500 Sep ’20 Daily Chart
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Bill Dixon

Senior Market Strategist
Bill began his career working with a firm of technical commodity traders specializing in the treasury and metal markets. In 2006 he moved over to Lind-Waldock as a broker. Bill joined RJO Futures in 2011.
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