The market is again approaching the key levels of longer-term support. Markets used to forecast the future but in the past few years, it had to react to every word and every move of the Fed and now it has to react to everything out of the Trump machine. Friday was the talk of another $100 billion of tariffs. Over the weekend, they tried to calm markets by saying they were just proposals. Leave no doubt, the Trump administration (maybe not Trump) is worried about markets. We just don’t know from day to day what Trump will say or do
But when everything is said and done, we try not to rationalize and go back to the tried and true…IT’S NOT THE NEWS. IT’S HOW MARKETS REACT TO THE NEWS.