If you think the market can't go any lower, you're mistaken. It's been a while since it's happened (housing bubble crash), but monthly indicators can go oversold. We're not there yet.
If congress doesn't step in and rescind the tariffs, the stock market will get cut in half like it did back then. It's gonna be nearly impossible for corporations to match even preCOVID level profits with such huge tariffs.
I do not recommend going long on anything until congress steps in. That may happen as early as this weekend, or they can wait until the market tanks 50%, lol..... who knows.
If congress doesn't step in and rescind the tariffs, the stock market will get cut in half like it did back then. It's gonna be nearly impossible for corporations to match even preCOVID level profits with such huge tariffs.
I do not recommend going long on anything until congress steps in. That may happen as early as this weekend, or they can wait until the market tanks 50%, lol..... who knows.
Note
I'm reading the news, and it does not appear that Congress is in any real hurry to repeal the tariffs. Expect more tanking.Note
Ted Cruz: “The business community has systematically underestimated how much President Trump and the Trump administration views tariffs as an ongoing, permanent feature of our economic policy.”Yikes. No long positions until the market prices in tariffs.
On a personal perspective, I think the US is too reliant on China, which is an enemy state. Tariffs on ally countries really doesn't make sense.
Note
Also, it does not appear that Congress is in any real hurry to repeal tariffs, maybe not until next year because of midterm elections.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.