Three numbers show that a trade war is less likely

Three numbers show that a potential trade war between the U.S. and China, and possibly other countries, is less likely. Improving money flows are confirming that, at least temporarily.

Let’s explore with two charts.

Two charts

Please click here for the previously published, annotated chart of the stock market. For full transparency, this chart is unchanged.

Please click here for a similar chart for the subsequent period.

The VUD indicator shown on the chart is akin to an X-ray of the market. The chart is of S&P 500 futures ESM8, +0.96% Similar conclusions can be drawn from popular ETFs such as S&P 500 ETF SPY, +1.09% Nasdaq 100 ETF QQQ, +1.18% and small-cap ETF IWM, +0.68%

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