- The Dow Jones Industrial Average (DJIA), climbed around 207 points, or 0.8%, to finish near 25,532.
- The S&P 500 ended around 23 points higher, up 0.8%, near 2,834.
- The Nasdaq Composite rose around 87 points, or 1.1%, closing near 7,735.
Yesterday’s risk-off tone partially retraced while Trump struck a more upbeat tone on US-China trade negotiations. U.S. Stocks ended the day on a comeback, albeit below the session's highs, recovering the majority of the prior day's route which had marked the biggest one-day fall for the S&P 500 and Dow Jones Industrial Average since the start of the year. On Tuesday, the Dow Jones Industrial Average (DJIA), climbed around 207 points, or 0.8%, to finish near 25,532. The S&P 500 ended around 23 points higher, up 0.8%, near 2,834 while the Nasdaq Composite rose around 87 points, or 1.1%, closing near 7,735. The rebound on Tuesday followed President Donald Trump playing down the trade dispute, which he described as just a "little squabble."
Trump's shift in tone on trade talks buoyed risk markets this morning, after the President noted his sentiment that the talks may be "very successful".
Technically, a close below the 200 4hr SMA was needed, 25280, to open the 24800 gap area (127.29% Fibo). Instead, the bulls ran through the 25500 target but fell just shy of the 29. March lows at 25771, meeting the 61.8% Fibo. So long as 25370, bulls can target a run towards the topside of the channel and said 61.8% Fibo target ahead of 26000. However, MACD and stochastics lean bearish and a break to 25200s guard a run to 24500s and then 50% of the upside run made at the end of Dec at 24150.
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