Hello traders,
Looking at the monthly chart for SPX, S&P500 is now about 6% below its all-time high. Investors are now very nervous about the US trade war with China. If Trump follow through with high threat to impose more tariffs on Chinese made consumer goods on September 1st, that could wipe out corporate profits from earlier in the third quarter and hurt retailers and consumers, which could lead to a further market correction.
You know there is a panic when investors are pulling money out of stocks and buying up US bonds, JPY, and gold as safe havens, which is reflected price today. My long term targe is low 2000's.
Looking at the monthly chart for SPX, S&P500 is now about 6% below its all-time high. Investors are now very nervous about the US trade war with China. If Trump follow through with high threat to impose more tariffs on Chinese made consumer goods on September 1st, that could wipe out corporate profits from earlier in the third quarter and hurt retailers and consumers, which could lead to a further market correction.
You know there is a panic when investors are pulling money out of stocks and buying up US bonds, JPY, and gold as safe havens, which is reflected price today. My long term targe is low 2000's.
