Hello traders everywhere. The Dow was down over 300 points or -1.19%, meanwhile the S&P 500 and Nasdaq are posting daily losses over -1%. Friday's decline capped off a deep sell-off this week that will be the worst weekly loss for the stock market of 2019 with the S&P 500, DOW and NASDAQ losing -3.5%, -3.5% and -4.4% respectively.
Stocks declined Friday as President Donald Trump said "there's no need to rush on a trade agreement with China" and "tariffs will make the United States stronger".
Trump signaled in a tweet Friday morning that he could stick with China tariffs for a long time. The comments came after he slapped higher tariffs — from 10% to 25% — on $200 billion worth of Chinese goods. The president added that tariffs will make the United States "much stronger," and "China shouldn't renegotiate deals with the U.S. at the last minute."
Trump also cheered the consumer prices data Friday, which showed weaker-than-expected inflation. "Really good, very low inflation," said the president, who has argued the Federal Reserve should cut rates to goose the economy because of tame inflation.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 2,954.13
- Dow (INDEX:DJI): 26,695.96
- NASDAQ (NASDAQ:COMP): 8,176.08
- U.S. Dollar (ICE:DX): 97.153
- Gold (NYMEX:GC.M19): 1,280.40
- Crude Oil (NYMEX:CL.M19): 61.46
- Bitcoin (BITCOIN:BITSTAMPUSD): 4,991.42
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
Mark Rohrlach Here,
A comment about Sami comments . Markets move in patterns , and timing .
The 4 quarters of the moon , look at how the market acts at these times . Those who control trends use this magic
About Sami's comment of a very large down trend continuously for 6 years , markets don't work like that , If Sami meant
the larger wave pattern will last 6 years or more , then Sami will be right , trying too find the lowest low or even after all the down waves and a new trend starting back up. It is impossible in my opinion too time the markets moves ahead accurately , this is only guessing . Prediction is fun , but guessing the time of a movement ahead accurately , I find impossible . Ps I can predict wave movement but not exactly when . When the trend has been fully shown in completion it is easy too read the trend predicting its timing of the next move direction , trying too predict a new trend is hard that is being spot on right .
I have predicted this fall 4 months ago and I have written abount its timing to start in May 2019
Look form my documented Twitter
@Sami_Saydam
This fall will keep until 2024
It is not going to end soon or this year.
Good luck guys.