Mid-week market update: The market's turnaround on Monday was remarkable. Going into Friday, expectations for the Geneva trade talks weren't high. Trump had floated a reduction in the tariff rate to 80%. Instead, the U.S. cut the rate to 30%, and China cut its rate to 10%. With recession tail-risk fading, it's not a surprise that markets went full risk-on.
There are lots of reasons to turn bullish. Numerous price momentum studies point to significant higher stock prices. On the other hand, the Fear & Greed Index has recovered from a fearful to a greedy reading. It may be a time for a pause in the advance.
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