Down we go as Trump continues to brutalize the USD with tariffs
Updated
With soybean exports down by 94% due to the tariffs, and the depreciating confidence throughout the world in the USD, we should see a huge recession in the Dow Jones over the coming months.
Note
Having met our first target, I'm waiting now for the market to tell me how violent of a retrace it wants to have. Volume is up on average lately and so we might see pretty intense volatility in some sort of a channel maybe? I guess we'll see.Note
It seems, based on how the price has moved recently, that the retail market still had too much FUD and the big money grew more confident in their shorts, and thus I think the chance of the price retracing all the way up to 24,113.28 is quite unlikely at this point.It seems the next resistances for our retrace/consolidation phase are currently 23,344.52 and 23,604.40. Then if we make those into supports we can see this market recover.
However, I'm still very bearish, and my buy orders will hopefully be filled between 15,000 and 19,000. I'm planning on using the DIA ETF to invest in the DOW.
Because of my long-term expectations of a paradigm shift in financial markets over the next 8 to 24 years, I only aim to buy near the bottom of a market cycle and keep stocks as less than 15% of my investment portfolio.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.