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  • The Dow Jones Industrial Average added a marginal 4 points, or less than 0.1%, to end near 25,969 while the S&P 500 was down 0.2% to end around 2,880.  
  • The Nasdaq Composite COMP fell 0.3% to finish around 7,943.
  • The S&P 500 was down 0.2% to end around 2,880.

Wall Street’s benchmarks were mixed on Wednesday, but recovering from their worst levels and were encouraged by optimism the White House that China was on the way to negotiate a favourable  deal.    President Donald Trump said that the Chinese delegation was coming to Washington on Thursday to secure a trade deal and as a result, the Dow Jones Industrial Average added a marginal 4 points, or less than 0.1%, to end near 25,969 while the S&P 500 was down 0.2% to end around 2,880.  The Nasdaq Composite COMP fell 0.3% to finish around 7,943.

DJIA levels

Technically, the double Fibo confluence at 25522 is guarding 25300 (200 D SMA). A break all the way down to the 24800 gap area would come into target ahead of the 24500s and then 50% of the upside run made at the end of Dec at 24150. Indeed, the fierce rejection at the end of Tuesday’s session has already seen bulls retrace back to the 38.2% Fibo level again. A break there opens 26344 as the 23.6% Fibo target ahead of 6th March highs at 26476.