S&P 500 rises to the best levels since February ...Middle East

I think there are economic risks out there but the price action right now is telling. There is a strong inclination to buy the dip and a belief in a Trump put. Call it at TACO trade or a belief that trade deals will come but it's bullish.

In addition, you have impressive technicals here. The slump yesterday was instantly bought and we're now above the May highs with a clear target at the February high of 6147.

A big risk I see is the US budget bill falling apart or Trump re-instating tariffs but hope reigns supreme at the moment.

This article was written by Adam Button at www.forexlive.com.

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