It all seems a little too contrived. On May 30, we got word that Mexico was going to get nailed with big tariffs unless they do something about the illegal aliens crossing our southern border. And then, just eight days later – – problem solved! Trump announces Mexico has made a deal, there will be no tariffs, and we can just dump aliens back across the border with Mexico’s pledge to “feed, house, and educate” them.
Wow, THAT was easy!
In any case, it’ll be more than a little interesting to see what the ES and NQ do on Sunday evening. It’ll be even more interesting to see what the actual markets do on Monday. Will markets explode higher on this suspiciously good news, or will they inexplicably slump? We’ll know soon enough.
Here are seven important cash markets and the next price levels I believe are important not to exceed. With any or all of these broken, it weakens the prospective bear case. The names of these are in the upper-left corner.