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Trump continues to lambaste China on trade, says “won’t be losing anymore”

Trump tweets continue in the new day

Trump

This just reaffirms his stance from the weekend and if his plan is to pressure China into caving in on a trade deal, it looks like he’s sticking with it. Not much reaction across markets on the tweet this time around but what this means is that he won’t backtrack on his stance on tariffs, so if this is the hard line being drawn, look out for potential China retaliation.

Guess what? US major indices open lower.

No surprise there

No surprise, US major indices are opening sharply lower. That is the bad news. The good news is the major indices are recovering in the early trade.
The snapshot is showing:
  • S&P is down -38.74 point or -1.33% at 2906.37. The low reached 2898.21
  • Nasdaq is down -139 points at 8025.62. The low reached 7981.85
  • Dow is down -375 points at 26132. The low reache 26033
For the Nasdaq, the price gapped below the 100 hour MA at 8067.407.  That MA will be eyed on a test. Stay below keeps the sellers more in control.  Move above, and the waters are more muddy (with the 50 hour MA eyed).
Nasdaq
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