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'Phase One' of the U.S. and China trade deal ended stocks three week losing streak. Well the promise of progress is what drove stocks higher Friday and out of negative territory for the week. The details of what President Trump called 'Phase One' went public 20 minutes before Friday's close and it sparked a sell the news reaction into the close putting stocks about where they opened. The deal made for now was essentially China promises to buy more U.S. agricultural products while the U.S. will postpone ...

Stocks rallied on Thursday despite some severe selling in the overnight futures session the night before. Trade, trade, trade. That's what these moves are all about. The Dow gained 151-points, but that was actually 100-points off the highs as once again we saw some selling at the top of the range that we have been watching.

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Stocks rallied on Wednesday but it was whipsaw kind of day as trade dominated the headlines. The Dow ended the day up a healthy 182-points, but a late push lower on news that China has lowered their expectation on a deal, took the indices off their highs of the day. We saw gains of near 1% in many of the broader markets, although small caps lagged slightly again.

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Stocks opened lower on Tuesday and pulled another reversal after a Jerome Powell speech driven midday rally failed as we headed into the close, and we had ourselves another loss greater than 1% in stocks. The Dow lost 314-points and there were no bright spots to speak of, except perhaps if the charts are telling us something, as we'll see below.

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Stocks opened lower to start the week, rallied into the early afternoon, but dropped sharply into the close creating some negative reversals on the charts. The Dow lost 96-points on the day, while the broader indices also lost a third to a half of a percent. The small caps and the Transportation Indices were slight leaders, but still had small losses.

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