And NQ, I'm going back to non-swing trades. So bugger off! (Not sure why I directed it to you, but you seem a friendly target. Like a clay pigeon. )
Was written in stone since last week, just that US players remained complacent (except our friend B1) and refused to read the signs. Trading the Indices on Fundamentals Trading the Indices on Fundamentals I've been net short US for a while waiting for the blind to get some vision. My initial S&P target is 2,791 but could go much lower
HAH! Just wait until the following... This is a tariff threat, so we had the first drop. If nothing happens with China trade, Kudlow or whomever announces near Sept 1st that the tariff are confirmed. Another 1% drop that day. Before this, there could be China capitulation and then the markets sail north again. If no action, Trump raises the 10% to 25% on the remaining China goods. Yo. Cut it.
Judging from the comments here, I was expecting worse. We're only down - 1,30 % from the close on Friday. Not exactly what I'll call a crash yet. That said, things are unfolding as anticipated and I think we have the potential of a - 3,00 % down day on Monday in RTH. No need to get emotional though. It's not like this is something that never happened before. It has. Many times.
https://www.bloomberg.com/news/arti...-state-buyers-to-halt-u-s-agriculture-imports The Chinese government has asked its state-owned enterprises to suspend imports of U.S. agricultural products after President Donald Trump ratcheted up trade tensions with the Asian nation last week, people familiar with the situation said. China’s state-run agricultural firms have now stopped buying American farm goods, and are waiting to see how trade talks progress, the people said, declining to be identified as they’re not authorized to speak to the media. China’s commerce ministry didn’t respond to a fax seeking comment. President Trump on Thursday proposed adding 10% tariffs on another $300 billion in imports from Sept. 1, marking an abrupt escalation of the trade war between the world’s largest economies shortly after the two sides restarted talks. Bureaucrats in Beijing were stunned by Trump’s announcement, according to Chinese officials who’ve been involved in the trade talks, and Beijing has pledged to respond if the U.S. insists on adding the extra tariffs.
Non of that changes the fact that we will see a rally of the 2894 LEVEL. Doesn't mean rally will reverse this new down trend. Just saying the over night sell off looks to be done for NOW. I am sure there will be more short opportunity in the RTH session.