S&P 500 trades at a three-week high as the optimism extends

Technical Analysis

S&P 500 starts strong

US stocks continue to bask in the glow of the China trade truce.

The S&P 500 is up 16 points to 3006 and trading has been narrow since the open. Shares of Netflix, JPMorgan and Alcoa are higher after reporting earnings. That’s the highest since Sept 24 and about 0.7% from the all-time high.

I’m watching Netflix as a bit of a barometer. It closed at $287 before earnings yesterday after the close. It opened at $318 but has given up virtually all the gains and is at $292.

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