Marts go on ‘jag’

Saw-tooth pattern from jumpy Street

Market bulls cautiously stepped out into the light Wednesday on hints of easing trading tensions between the US and China.

The Dow Jones industrial average popped as much as 458 points in the trading session, following a report that China plans to revise its Made in China 2025 initiative to be less focused on China domination of high-tech industries.

News of the revision, which was first reported by The Wall Street Journal, came after President Trump tweeted Tuesday that trade conversations with Beijing were “very productive.”

But while Wall Street initially lapped up the positive trade news, the early market exuberance ebbed as the blue-chip index pared its gains to end the trading day up only 157 points — or 0.6 percent — at 24,527.27. The S&P 500 gained 0.5 percent Wednesday, while the Nasdaq gained 1 percent.

“It feels like the mentality has been to sell the rallies versus buy the dip,” Mona Mahajan, US invest- ment strategist at Allianz Global Investors, told The Post.

Analysts aren’t forecasting easier times in the few remaining trading weeks of the year, as headlines will continue to direct the market and traders will eagerly try to lock in any gains they can realize.

“There is more interest in selling strength than in buying weakness,” said Jack Ablin of Cresset Wealth Advisors, noting that the market has followed a downward trending saw-toothed pattern.

Choppy market days will continue “unless there is a steady stream of commentary from the administration on trade negotiations,” Quincy Krosby, chief market strategist at Prudential Financial, told The Post.