What a Difference 5% makes!

This morning, President Trump tweeted:

The market has adjusted to the trade battle with China and we are somewhat prepared for a tariff battle related to Autos and Auto parts with Europe coming soon. I think the 5% on Mexico imports, with the warning that the tariffs could climb to 25% is a dramatic turn of events. If there is not progress regarding illegal immigration, via Mexico, in the months to come tariffs will rise. This adds another layer of uncertainty for corporations, investors, policy makers and central banks.

The markets were taken a bit by surprise:

Gold has bounced higher on the news and has broken above resistance.  Look for a consolidation at these levels before heading higher.

S&P 500 has not looked back since breaking the important 2800 level we highlighted.  Looking for test of 2720. Today.

Crude oil looking oversold at these levels as it reacted to Mexico tariffs, with a fear that this will also contribute to slower growth and less demand.

Euro Stoxx 50 had a key support level at 3300 which has been broken and a close below today will not bode well for the Bulls next week.

Contact us if you are interested in receiving real time trading signals. In doubt? Check out our track record below!

TickerDate OpenedEntry PriceStopTarget PriceCurrent Price% Change

Visit our Position Tracker to look at all of our realized trades and proven track record!

– Mark W

Share if you found it interesting!

Leave a Reply

seventeen − 9 =

Contact Us
close slider

[recaptcha]