Morning Gaps Higher Hold
Trump's overnight deal with China was going to cause a gap higher in the market. The challenge was whether this gap would be faded by shorts or if bulls would be able to push it higher. The end result was mixed as bulls were unable to add to markets off the open but the likely short fade never materialized - which is good. The S&P tagged resistance from the October and November swing highs as it finished the day with a neutral doji. Short term (buyers) will take profits here and aggressive shorts may try to attack the bounce but long-term investors can hold for another move lower before adding.