US-China trade talks would still be conducted on October 10

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US-China trade talks would still be conducted on October 10
mohamed_hassan / Pixabay

The King Report October 8, 2019 Issue 6108: ESZs traded lower on Sunday night due to the report that China is against a broad US trade deal and the US won’t take a minor deal ahead of US china trade talks.  Also, Japan’s Leading Index for August fell to 91.7 from 93.7.  This is the lowest reading since November 2009 (90.5).

Europe opened higher on the standard trader buying for the Monday rally.  The rally ended with 25 minutes.  ESZs and European stocks declined for an hour and then traded within a 3-handle range until jumping at 6:00 ET on a report that US reaffirmed that China trade talks would still be conducted on October 10.  Though this report initially appeared on September 26, the US confirmation that the meetings would still occur induced algos and traders to buy ESZs.

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