I feel like I'm trapped in a never-ending nightmare installment of "Deal or No Deal" right now. And I bet you feel the same way.
On Friday, traders were biting like trout; market vibes were upbeat on word of a "partial deal." But then, Chinese government media outlets said, not in so many words, "Whoah - don't break out the champagne just yet!"
So the Chinese have thrown cold water on things, but the administration's still calling this "phase one" of a deal.
I watched Treasury Secretary Steve Mnuchin on CNBC yesterday morning talking about the deal. Questions were coming left and right... and Mnuchin was dodging right and left. It's clear there are a lot of details still to be ironed out, and no one in the White House feels like talking about them.
But still, most of the pieces are in place for a decent run higher, maybe even back to all-time highs. When we see stocks and volatility hit the levels I'm going to show you, we'll know that a respectable bull run is underway.
About the Author
Chris Johnson is a highly regarded equity and options analyst who has spent much of his nearly 30-year market career designing and interpreting complex models to help investment firms transform millions of data points into impressive gains for clients.
At heart Chris is a quant - like the "rocket scientists" of investing - with a specialty in applying advanced mathematics like stochastic calculus, linear algebra, differential equations, and statistics to Wall Street's data-rich environment.
He began building his proprietary models in 1998, analyzing about 2,000 records per day. Today, that database, which Chris designed and coded from scratch, analyzes a staggering 700,000 records per day. It's the secret behind his track record.
Chris holds degrees in finance, statistics, and accounting. He worked as a licensed broker for 11 years before taking on the role of Director of Quantitative Analysis at a big-name equity and options research firm for eight years. He recently served as Director of Research of a Cleveland-based investment firm responsible for hundreds of millions in AUM. He is also the Founder/CIO of ETF Advisory Research Partners since 2007, noted for its groundbreaking work in Behavioral Valuation systems. Their research is widely read by leaders in the RIA business.
Chris is ranked in the top 99.3% of financial bloggers and top 98.6% of overall experts by TipRanks, the track record registry of financial analysts dating back to January 2009.
He is a frequent commentator on financial markets for CNBC, Fox, Bloomberg TV, and CBS Radio and has been featured in Barron's, USA Today, Newsweek, and The Wall Street Journal, and numerous books.
Today, Chris is the editor of Night Trader and Penny Hawk. He also contributes to Money Morning as the Quant Analysis Specialist.