With the recent Chinese Tariff issue and overall economic slow down the stock market has taken a hit and looks like we have more room to go further down. Overall I don't see a longer term recession kicking in for at least another 1~2 years but there should definitely be a slow down in the overall market and seems like we may be printing an ending diagonal to inch closer to the big psychological number at 30000 points. In most likeliness we probably will start a multi year recession once we get near that number or a little past to cool off the over extended market with so many over valued stocks especially in the tech sector that has not turned a single penny in profit. The next 1~2 years would be an important period for some of these tech companies to start turning profits and find a good base to weather themselves through the recession or else they will be hit the hardest while we may even see some of the old well established companies trade side ways while commodities like gold will see new highs.
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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.