The last hour of US stocks trading is often referred to as the ‘’hour of power’’ such is the scale of moves (both up and down) often recorded by the major US Indices. Yesterday it would be better referred to as the ‘’four hours of power’’, with a large crack appearing under the market at exactly midday New York time with four hours of trading still to come. Financials (-4.2%) have led the slide in the S&P500, a predictable response to the ever-flattening US yield curve, where the 2/10s spread has made a new post-June 2017 low just beneath 10bps (11bps now). Adding to the malaise here have been comments from JP Morgan chief Jamie Dimon warning of flat earnings in the current quarter. It is not just about the yield curve though, with doubts about whether the Trump-Xi handshake and agreed 90-day moratorium on further tariff action was anything more than just that. For one, the US administration has already had to row back on Trump’s twitter claims that China ahead agreed to reduce tariffs on US auto imports while officials on the Chinese side have been notably mum on what was agreed last Sunday (currently being ‘’explained’’ by the absence of President Xi and other Chinese official from the mainland). This hit the Dow hard with the market falling 3% to record its fourth largest point drop in history.

To mark my 1725th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it made 145 points yesterday and is now ahead by 220 points for December, having made 1541 points in November, 2094 points in October, 1279 points in September, 599 points in  August, 1074 points in July, 994 points in June, 1927 points in May, 1657 points in April, 1760 points in March and 2256 points in February. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

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