Ouch, ouch - Traditional Markets are bleeding Tuesday. Dow Jones, Nasdaq, SPX and Russell down 3-5 %! Worst day in a month.
FAANG Stocks ( Facebook , Apple , Amazon, Netflix and Google ) dizzy too. FB the least, but maybe not a surprise after Marc Zuckerberg's hearings in the senate in July, which has made FB Stocks fall like a knife.
SO WHAT HAPPENED?
- Dow transports suffer biggest-ever point drop , led FedEx and UPS stock selloffs.
- And then we have Trump 'The Tariff Man', who had this idea, that he via his stupid Twitter messages, and after a face to face meeting with Chinese President Xi Jinping could convince him not to raise tariffs on more than $200 billion in imports to 25% from 10%.
It doesn't look good so far - and the markets have reacted negatively on that.
And back to Dow Jones - DJIA closes 800 point under with a -3 % - looking from a TA Perceptive it is horrible news. As you can see, after our Powell Rally we managed to climb up on the EMA's and could cruise on them for a couple of months, and make some solid gains.
After yesterdays drop - we only have support from last . A very critical point! We really want to avoid falling below!
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