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On analysis of the movements of S&P 500 Futures, in different time frames, I find that the progress in developments on finalizing a partial deal between the two major economies of the world generated bullish sentiments in global equity markets during the last few trading sessions, but since then, I can see the growing exhaustion looks strong enough to generate a steeper sliding move as the U.S.-China trade deal may not be ready for signing in Chile.
No doubt that this delay may extend growing suspicion over the upcoming next dates, especially at the time while it had been confirmed that this partial deal may be signed during the mid of November, 2019. U.S. President Donald Trump and Chinese President Xi Jinping were expected to sign "phase one" of the trade agreement at next month's Asia-Pacific Economic Cooperation summit in Chile, but the date is still fluid; which may extend exhaustion global equity markets. I expressed my doubts over the delay in deals.
Finally, I conclude that this delay in sealing a 15-month Sino-U.S. trade deal may result in heavy sell off amid growing skepticism over the success in finally sealing a trade deal; which will extend quantum of currently prevailing global economic slowdown fear, while the weak Chinese economic data confirms the continuity of this bearish trend in global equity markets. To watch my upcoming videos on S&P 500, visit my YouTube channel ‘SS Analysis’.
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