Short Term Trading Weekend Lounge: 7-9 Dec, page-23

No one has made specific mention of Friday's price action on US markets. Unfortunately it was real, S&P 500 down 2.3% and Nasdaq 100 down 3.3%. It finishes one of the worst weeks in last 8 months, down 4.6% and 4.9% respectively.

The trade war, Fed about to raise interest in about 10 days from now, and the arrest of the Huawei CFO on instructions of US authorities, are playing havoc with equity markets. Sometimes the XJO runs out of sync with the US, but recently there has been quite a strong positive correlation. If nothing extremely positive happens before Monday, it will be bloody on the ASX at Monday's open. But nothing looks to be a buy, as we are not at the bottom, so that, and the algo trades will surely exacerbate the fall. One option is not to look, until we get some good news.