S&P “..a ridiculously overbought market – and still the fund managers tell us that there’s little to worry about.” Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

S&P SHORT TERM TRADER: Hoping to sell on a little bounce towards 2800.

S&P POSITION TAKER: New short at 2755; stop above 2820. Target 2620.

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Sunday’s deadline comes and goes No German coalition

Angela Merkel and her CDU party have been unable to agree terms with Martin Schulz’s SDP in what is now the longest political impasse in Germany since WWII. They’ve decided to carry on talking as from 10:00 am today and aspire to wrap it all up by tomorrow. Who’ll give me odds on that?

CNBC reports that China has accused US Secretary of State Rex Tillerson of showing ‘disdain’ and taking the mantle of ‘new imperial powers’ in its international relations, especially in relation to Latin America. State-owned newspaper China Daily said Washington was suffering from ‘paranoia’.

Financial & Political Commentary

 

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