There are many reasons as to why we’re going to rally today and some of you are so jaded, and cynical, you will not believe it’s possible. But rest assured, we’re going to rally from here, and more.
The news is as expected, more Chinese trade war victories.
China’s commerce ministry said in a statement Liu had spoken to Mnuchin and Lighthizer on Tuesday morning, Beijing time, on a pre-arranged telephone call.
“Both sides exchanged views on putting into effect the consensus reached by the two countries’ leaders at their meeting, and pushing forward the timetable and roadmap for the next stage of economic and trade consultations work,” the ministry said.
In comments reported separately by China’s Foreign Ministry, the government’s top diplomat, State Councillor Wang Yi, said if China and the United States cooperated, it would benefit the whole world.
“If China and the United States are antagonistic, then there are no winners, and it will hurt the whole world,” Wang told a forum.
The United States should look at China’s development in a more positive light, and constantly look to “expand the space and prospects for mutual benefit”, he said.
Bloomberg News said the proposal would cut the tariffs to 15 percent from 40 percent, citing people familiar with the matter. China raised tariffs on U.S. autos to 40 percent in July in retaliation to U.S. tariffs.
Why we permitted this fuckery to continue in China for so long is another question. But the bottom line is this — the fucker of a market reversed hard off the lows yesterday and closed up. The candleFAGS point to a hammer reversal day and I do agree — it’s a very bullish technical pattern. We’re very likely to get a major hollow candle today, followed by 2-3 additional up days inside of this range — up to $280 on the SPY.
Very productive conversations going on with China! Watch for some important announcements!
— Donald J. Trump (@realDonaldTrump) December 11, 2018
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