Anyone scalping the FTSE Futures??

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Has the trade war rhetoric lost its punch? Stocks held near their record highs on Tuesday, even as Trump said this: “If we don’t make a deal with China, I’ll just raise the tariffs even higher". Market's latest all-time highs appear bulletproof in spite a weakening economy and China standing firm on "no-deal without tariff roll-back" such negative headlines would have rattled nerves just a few weeks ago but we are in the "silly" season... that's when fund managers and institutional traders are looking at "bonus protection" rather than fundamentals and reality... the higher markets close on Dec 31st, the higher their bonus. However, the silly season is also when a small market sell-off can cause an avalanche for the same "bonus protection" reason... institutional traders will be elbowing each other as they lock-in profits while heading for the exit, but right now, negative headlines are ignored, nobody is selling and dumb money is buying... institutional traders are sitting back with bonuses, not trading, on the mind.

There is no good news out there, on top, Nancy has "officially" stuck her nose into the Hongkong issues. My take is that China's reaction to the interference in its internal affairs will not be good and will affect or derail the trade talks, which, China already sees as the US interfering with its sovereignty on Economic matters.
 
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