US equities look like they are going to kick off the week on a down note today as the latest tit for tat trade spat between the US and China continues. Both Chinese and Japanese equities were closed for holidays overnight, and European equities are broadly (but not sharply) lower to kick off the week.

As noted in last week’s Bespoke Report, the US stock market is coming off a strong period for the bulls as the S&P 500 has rallied in eight of the last ten sessions completing what was a textbook technical pattern breaking out, testing the original breakout point, and then making a run for new highs.

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