SPX Bearish
Updated
This trade war is going to hit the SPX hard in the next 6 months I think. SPX reached a new all time high and then collapsed. This demonstrates exhaustion to me. It is hard to see how further rate cuts can bolster this market as the trade war will have far more direct consequences on 1. Global GDP growth, US Company profits and USD rise.
It's entirely possible that the SPX will rise again (maybe even higher) as the longer term consequences of the Trade War kick in and the flight to quality sees demand for US equities. But if the short-term there will be risk aversion. I am also looking for trades in bullish DXY and bullish Gold.
It's entirely possible that the SPX will rise again (maybe even higher) as the longer term consequences of the Trade War kick in and the flight to quality sees demand for US equities. But if the short-term there will be risk aversion. I am also looking for trades in bullish DXY and bullish Gold.
Trade active
I opened a short at 2935.
Related publications
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.