S&P 500 falls to the lows of the day

The range has been fairly tight in US stock markets today but some sellers just took a leg lower after hitting stops below the earlier double bottom.

At 0.4%, the move today isn’t large but it’s disappointing after some seeming progress between the US and China. I warned about a ‘sell the fact’ trade on it as stocks had been climbing all week after there were signs of a call. I think many people (including me) would have liked to see some kind of token shift in policy at the very least.

Tesla is a drag on everything today and is now down 10%.

This article was written by Adam Button at www.forexlive.com.