SPY key resistance at 260 level, correction continues

28 Des 2018

The huge rally on Wednesday was eye-catching by any measure, with shorts taking profits after President Trump and his administration trying to placate market panic. Although the U.S. government has been shut down for a while, I guess it won't be a decisive factor in determining the market move. Robust retail sales probably will support the market rally. In the meantime, fundamentals buying force may pour in based on the misconception that the economy is fundamentally strong as the President and most economist has asserted.
Europe is a mess, China is slowing down dramatically as I'm here and watching thousands of factories and small business reeling due to dropping demands in domestic and overseas.