Looks like the trade wars are back on: Chinese ambassador to US: We will take measures to fight back very soon https://www.cnbc.com/2018/04/03/chi...ll-take-measures-to-fight-back-very-soon.html
as bad as things are looking pre-market it still looks pretty orderly ... wonder if that will change today and we'll see some sort of panic/capitulation selloff or if we'll see some BTFD action. 2018 sure is going down as one for the history books as far as volatility so far haha.
The China news came out around 8:30 PM EST last night. I was waiting for the drop, but never happened until around 2:30 AM EST. I was asleep by then, so I missed the whole move.
/ES may be heading back toward last night's low 2560 area...scalped a little just now on the pullback...we'll see what happens on the open
Who would have guessed that starting a tariff war with China could have such negative effects? So strange! Geez... I dont like politics like this messing with free markets, I thought our buddy Kudlow was all about free markets, why isn't he straightening out Trump on this?
Oh no, I bitched for the last 8yrs about how QE was complete BS and they should let the markets go down and find equilibrium. As Bernanke said, he wanted to refill the cup to the point where it was overflowing. We have been in overflow mode for a good 4yrs.
- China's Ministry of Commerce said the tariffs are designed to target up to $50 billion in U.S. products annually and would hit goods like soybeans and cars. You know who loves tariffs? Those farmers that export soybeans to China! Ironically those farmers are all in the Mid-West. If you are a conservative, you should be furious about this!
SPX 8 EMA is playing resistance again, idk if the chart is just rounding out for a slow recovery which would be pretty bullish instead of a V recovery or if we about to ride the 8 EMA down lower and lower :/ i agree with stockjock , trump is playing with fire. even though kudlow is for free markets, apparently he has come around to trumps ideal of putting pressure on china to get a proper trade deal, and the tarrifs are just to push them towards reworking a proper trade deal.....hopefully just a threat and they dont start a real trade war
Kudlow wouldn't have been hired unless he already agreed with Trump's plans for pressuring China. Yeah, a real trade war would put us in a bear market. Right now still just a correction. I'm still hoping we get out of this (but I can be patient...a little bit) and get to ATHs. Which we will, with the tax breaks plus protecting China trade.
