Weekly TA is so bearish, and we just escalated the trade war. China will most likely retaliate. Easing in Europe.
Not saying we are going to crash or anything, but we should see a pretty significant pullback. It will not be a direct line down to the bottom of the megaphone wedge. And we still are in a strong bull market that has spit up this news before. Trump doing this promptly after the fed making the cut though was foolish. Major blunder, and a bad move for America. The fed has been planning for years, well over 5 years to have rates at 2.9% in July 2020 in an effort to normalize rates. This would aid boomers and savers. It would more importantly give the fed some room for when things slow down big time in the coming future.
Agree on everything but the timing by Trump. By my count it was perfectly due/ending wave at the time of Fed meeting and before Trump tariff threat, so why not utilize the pump to dump.. Can't pump forever after all..
ZenMode
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@labrat, I think we would have been in for a nice melt up. I was positioned for it, the announcement took me by surprise.