Chinese trade retaliation could impact negatively....

We are back to agenda driven trade rhetoric which may have serious affect in US stock market...

USA is always the leader to initiate trade strategy which is most untimely.....

US economy is in lock down and the last thing we need a new & improved version of restarting a trade war with China...

China is almost back to normal operation in most areas, even airlines are 60% of their volume...US airlines skeptics should take notice of this fact.....it is not fiction.....

China is all set with their own retaliation against key US companies like Boeing, Qualcomm & Apple.....not a very pretty picture for Navarro & the gang.....

Back to US stock market.....

We were doing more than fine fine until........less said the better.....

S&P 500 above 50 DMA

Russell 200 above 50 DMA

DOW above 50 DMA

SOX above 50 & 200 DMA

Nasdaq above 50 & 200 DMA

Many stocks have been testing support and then making new highs which is a sign that this market is on very healthy ground

Indices are also testing support and holding it and moving UP from there.

We all have our favorite stocks and are trading based on our own knowledge of their trading pattern...

Market may react to tit for tat trade strategies......but that may be another buying opportunity...

So take a deep breath and ignore all the macho talk on trade, there is life beyond rhetoric...

Good luck with your own interpretation of trade war and its impact.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed