Markets are all over the place. I know ground breaking info. I don't think there is any clear answer to what is next.
Even if Trump does reduce tariffs on China, they are still going to be some of the highest in recent history. However, it looks like Trump has flinched and China has the upper hand. That is just likely going to make Trump more erratic since his policies are emotional/ego driven and not strategic.
Overall, there are likely some short-term gains to be have as the market likes to always push up when not in an panic sell. For now, the worst of the news is over and the low from the other week is likely going to be the bottom for the near future. I expect stock to continue this up and down until the tariffs work there way through the system and we see the true effect on the economy.
We punched above the 20 day SMA yesterday and will likely test it for support today and tomorrow. If it holds, I wouldn't be surprised to see prices test the 200 day. Hard to know what crazy stuff Trump will do over the weekend, so we will have to see. Good luck and enjoy the ride.
Even if Trump does reduce tariffs on China, they are still going to be some of the highest in recent history. However, it looks like Trump has flinched and China has the upper hand. That is just likely going to make Trump more erratic since his policies are emotional/ego driven and not strategic.
Overall, there are likely some short-term gains to be have as the market likes to always push up when not in an panic sell. For now, the worst of the news is over and the low from the other week is likely going to be the bottom for the near future. I expect stock to continue this up and down until the tariffs work there way through the system and we see the true effect on the economy.
We punched above the 20 day SMA yesterday and will likely test it for support today and tomorrow. If it holds, I wouldn't be surprised to see prices test the 200 day. Hard to know what crazy stuff Trump will do over the weekend, so we will have to see. Good luck and enjoy the ride.
Note
4/29/25 Short term is still up. As long as Trump keeps pulling back (or at least suggesting that he is) on tariffs, I expect it to still go up. Traders are forever optimistic and want to make money, until they panic. The panic is gone for now. If we get a downturn, that will be when the economy starts to slow and it shows up in earnings.Note
Minimal test of 200 day. Curious to see what happens next week.
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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.