The US have hiked tariffs as promised, although trade talks are set to resume in the US later today. Whilst this provides a glimmer of hope for a trade deal to be reached, the reality is we need to brace ourselves for a no-deal outcome. Either way, we expect trade talks to have a binary outcome for sentiment and market action. Matt Simpson takes a technical look at the Sow Jones Industrial average and Caterpillar (CAT) which is particularly sensitive to global growth and therefor today’s trade talks. Bullish and bearish out looks will be provided for both, which hinge on the outcome of today’s talks.
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