Tariffs cause more market chaos, WTI Crude Oil opens lower in gap, forex trading a stronger JPY [Video]
|We finally got the news from the White House about tariffs and it all suddenly got very real.
We see price action on the NASDAQ and the Russell 2000 getting hit harder.
The Russell 2000 represents small-cap companies in the US that will be hit harder by pointless tariffs.
The NASDAQ does not consist of any financial companies and only one failing car company so it is more susceptible to uncertainty.
The S&P500 represents the best cross-section of American industry and hopefully,y soon, we will have an opportunity to “buy the dip.”
The DJIA was hit but not as badly, thanks to the strength of the top 30 companies.
But uncertainty will still be a problem for investors.
The Nikkei225 was hit even harder as most companies in Japan deal with huge export markets.
This gave some strength to JPY, and we will look at some reversal opportunities early next week.
Last time we were considering a bear run on silver and look what happened.
We see technical confluence in the stochastic oscillator and price action has broken through the lower trend line.
If you like gap trading, take a look at WTI and Brent Crude.
The threat to global commerce has hit oil as well, opening lower with a gap.
As well, we will reassess early next week.
That’s all for now.
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