Last week all three indices had a mild selloff, which touched the previous breakout line but quickly closed above the breakout line.  Despite the scary new development about the pending trade war phase one deal, the price action has been resilient.  It’s impossible to predict what the December 15th White House tariff decision would be, but the price action predicts that the most likely outcome is no additional tariff to be put on December 15th, everyone will have a merry Christmas.

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