Myopic traders on edge!

Here’s our 1-minute S&P 500 chart this morning:

The Dow took about a 200-pt hit at the same time.

Here’s the headline: 

“Phase One Trade Deal May Not Be Completed This Year”

If things run true to form (if there’s no new strategy afoot), soothing commentary from Larry Kudlow, or a tweet from the top will be arriving soon…

Clients, per the data, and the debt picture we’ve been painting, the longer-term setup is rapidly moving beyond the short-term prospects for a trade deal.

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