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I’ll simply summarize and provide the major resistance and support levels for the SPX, GOLD and OIL shown on the following monthly charts and you can judge for yourselves whether strength or weakness is in the cards in the near term.
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I’ve suggested on multiple occasions that the relatively obscure agricultural fund, symbol DBA, is a proxy of the China Trade Talks optimism or pessimism. Since it seems prospects aren’t exactly great, we’re selling off on the ags, even though equities don’t’seem to care at all.
To my way of thinking, one proxy for the whole China/US trade deal (or no deal) is the agricultural products fund, symbol DBA. It isn’t particularly heavily-traded, and it’s been in a steady grind-down for years.