SPY & Trump
China should be well aware that America is postured for a proper fight. We recently hit ATH and is showing a solid economic foundation. (Unemployment rate, GDP). China, on the other hand, showed a mediocre GDP growth and an unprecedented drop in exports. They can't afford to lose any more export growth to the U.S.
If they choose to retaliate with half-assed tariffs, we will prevail in the long term. The market will correct to either 280 or 272 levels. Most likely, given the short time-frame, China will either cave or negotiate another stall-out, which should send us upwards to at least 290.
Coincidentally, TA is showing a move up tomorrow. Any proper move down will come when a proper ATH is hit, TP: 296-303.
We will recover, for now.
If they choose to retaliate with half-assed tariffs, we will prevail in the long term. The market will correct to either 280 or 272 levels. Most likely, given the short time-frame, China will either cave or negotiate another stall-out, which should send us upwards to at least 290.
Coincidentally, TA is showing a move up tomorrow. Any proper move down will come when a proper ATH is hit, TP: 296-303.
We will recover, for now.
Note
es1 backtesting
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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.