Editors Note:

IMF head Christine Lagarde reminded everyone this week, there is no trade deal until the fat lady sings. While the president talked positive about the negotiations in a press briefing today, his lieutenants were talking negative. Despite his positive comments he said it would be at least four weeks before the current stage is complete and then two more weeks to "paper" it up. Six weeks from now is around May 15th and these things always slip. That means we are probably looking at June 1st for a potential Florida summit with President Xi. I seriously doubt the market can hang at or above this level all the way through May. Once the first three weeks of Q1 earnings are over, there will be a lot of incentive to take profits and leave for the summer.

 

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