TARIFFS AND ALL THAT CRAP!
Let’s face it. There are a million financial talk show hosts out there all of them can recite chapter and verse of the daily market trends. But, how many can give your listeners an inside look at what’s happening in the market? Gary Kaltbaum brings decades of experience and a no-nonsense approach to politics and investing.
Futures down a bit and all over the place as tweet after tweet comes out on China trade.
But backing away from the noise:
Major indices held the 50 day moving average yesterday…a place that normally holds in an uptrend. Get the hint!
The NASDAQ, NDX, RUSSELL, TRANSPORTS and S&P bounced off this vital area. The DOW is below but influenced by a couple of names in BA and MMM.
Watching these areas closely.
It was good news yesterday that a bunch of leading growth software names stood tall and either held or got moving again. Leading growth names acting well is always important. If they come and get them, it will be a negative sign.
Uh…the market is down on the open as trade tensions escalate. We are of the hope the president backs away from the tariffs that go in effect tomorrow. We really thought he would because he had no choice but not sure any more.
Markets were overdue to correct because of a strong first 4 months. Looks like they got the catalyst. Keep in mind, a backing away from tariffs would help so it remains quite the news-driven environment.
Crappy day yesterday though nice little rally at the close to make things less worse.
Futures down this morning. China trade front and center. WE DO NOT BELIEVE THE PRESIDENT ENACTS NEW TARIFFS THIS WEEK. If he does, major disruptions as no business has prepared for it. In fact, they have been told for weeks and months how well negotiations were going. If tariffs are enacted…well, let’s just hope we are correct in our assessment.
Corrections do happen. After all, major indices were up 2-3 years of average yearly gains in 4 months. We just got a catalyst for one. We have no clue how long it lasts or how far it goes. But remember, it is easiest to isolate strength during a period of weakness.
More to come.