MSM writes in their article titles that "US-China have agreed to phase out tariffs", but in the actual articles, it turns out that it is more of a should-would-could case, which the Chinese minister just put out there as a basic pre-requisite for any possible deal. Why is market so happy? Even if the tariffs were removed, this wouldn't mean any progress in the big picture, but just going back to the situation these two countries were before.Sell into the rally of $SPY. Watch $VXX.