E Market Briefing For Friday, May 18

Nearly got a key reversal on Thursday, as the S&P and most tech for sure were up and then down, well before the controversy over whether or not President Trump's dour remarks about trade-dealing with China had merit. After the Close; there were reports of a 'concession' of 200 Billion by the Chinese, but most of that might benefit Boeing (BA) in particular.   

 

In any event the market (especially the overdone big-tech MANA & FANG types) were on the defensive while Oil held up the list a bit. I expect any initial rally (such as relief about China, which is more face-saving than real; although I do expect some Agreement with them as this sorts-out) ... any early rally should likely be faded with the market wavering at best thereafter, or even in a flat-out reluctant sell-off. 

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