S&P 500 hits intraday high as another indicator hits sell signal

Markets rose on Tuesday.

The S&P 500 rose 0.2 percent, touching an intraday record high. The STOXX Europe 600 rose 0.2 percent and the Shanghai Composite jumped 1.3 percent.

Kate Warne, investment strategist at Edward Jones, said that the rally showed “optimism on at least some partial resolution of the trade negotiations” between the US and China but also “the positive underlying fundamentals of very positive earnings growth and modest interest rates”.

Still, Mark Hulbert at MarketWatch said that “an indicator with more 100 years of history, an excellent record at calling multi-generational tops in the U.S. stock market...has just flashed only its sixth sell signal since 1895”.