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The USA vs CHINA a view over the 2 Index by ThinkingAntsOk

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USA vs China

-Trade War between those two country’s has shown how the markets react on a Negative way to this kind of events.

-Since May 1, Sp500 futures have been falling 5% from Historical Higher highs due to conflicts with China, however, China Index has been on a bearish movement since 17th of April accumulating a bearish move of -10,21%, more than twice of the E-mini SP 500

-While this conflict keep on going we can expect markets to keep reacting on a negative way

-On E-Mini Sp500 we can see that price is inside a bearish channel since the beginning of the movement, this channel has been working as the main trend of that move.

– By Elliott wave theory we can label this structure as a Complex corrective form “ Triple – Threes” and we can expect price to reach again the bottom trendline of the bearish channel , before starting a correction of the whole down movement

– On China Index if price consolidates below 10645.00 we can expect a continuation of the bearish trend towards 9962.00

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