Sellers have lacked the moxie to break the stock market down even though bullish buyers appear to have vanished from the scene. Because September is upon us, however, it is most unlikely that this tedious game will continue for long. Expect shares to continue to benefit for the moment from the pretense that trade talks will produce an economically significant result. The best we can hope for in reality is a face-saving announcement and some rainbow-colored tweets from Trump that should be good for a three-hour rally. We’ll want to short it when it occurs, but doing so now risks getting whipped around.
