With China announcing their response to Trump trade war and with the Dow opening with over 500 points lower that previous day close the stage is set for massive intervention by central planners to push the stock market up.
As so they did, massive buy programs triggering massive rally starting right from the opening bell.
The rally should continue as profit-takers cover their shorts and reversed to buying. There is certainly more central planners intervention and if more short needing to cover, more rally is to be expected.
Key support remains at the 200-day moving average on the daily chart.
China retaliation is going to hit the soya bean and pig farmers hard. It is just the beginning. Northing good will come from the trade war.
