As long as the phase one deal between U.S. and China stays intact through the weekend, the economic impact of the trade tensions shouldn't be enough to force the S&P 500 under its 200 day moving average.
The bullish recovery seems to be continuing.
Hopefully we'll see some global stability set in now that markets are trading above their 200 day moving averages again. I don't expect the S&P500 to retrace below its 200dma unless we experience some severe catastrophe.
With prices wavering between the 200 and 100 day moving averages, and the 3000 point position proving difficult for the market to hold, I believe we'll see SPY drop significantly this week as the market continues to find its "new normal".
