Lil china figured if The orange shat his pants and removed the 10 % tariffs when stocks were 5 % below all time highs, they should reverse manipulate it's trade data for once, make them look as bad as they actually are, when the SP drops another 5 %, he will remove all tariffs effectively china just has to devalue yuan and go guns blazing in HK, trump removes all tariffs... china never misses any estimates, they literally create the estimates and results, always by magic they beat on everything, always... Look at numbers they just released, it's a big miss on every category, wonder if they figured something out ? Haha, Kudlow needs to tell donny his thong is showing, xi is getting ready to grab T by the puss!
Putting all the noise of B1 here aside, I actually think yesterday will prove to be another top. BTFD is over for now. Sell the Tweets.
Certainly enough damage has been done by The Great Orange Problem to the world's intermediate term economic prospects and potentially, to the US's long term prospects (the Trumpites clearly do not appreciate the damage done to US Agribusiness and the importance of Agribusiness as a foundation of our economic prosperity) that a severe comeuppance is .... coming up. Now that the bond market has gone and slightly inverted the yield curve, barring a quick reversal, Powell really has no choice but to lower rates again quickly or fire up the QE engines again (He'll likely get it all fixed up at Jackson Hole - incredible timing, you know). We will see if he will steer through it or if the unthinkable has happened: The US is cursed with an incredibly stupid President at the same time itis saddled with a Fed Chief of commensurate intellectual ability. Of course, the market is forward looking, and one wonders (at least I wonder) why we are still trading near all-time highs if the world is on the brink of recession. Which is why I trade technicals based on statistically significant price behaviors. Because if the numskulls runnin(ruining?) the show don't know WTF is going on, how am I?