A positive day with the Dow Jones up 98 points (+0.41%) and the Nasdaq up 58 points (+0.79%)
Today’s market action was nearly ideal if we consider our overall forecast.
As was discussed in our Intraday section, we were expecting a bottom at the open or within the first 60 minutes of trading. We got the said bottom at 9:45 AM EST at 23,997 on the Dow. This is exactly where…….if you would like to see the rest of our internal forecast, please Click Here.
We have been arguing for quite some time that President Trump has no idea what he is doing when it comes to trade. He is not protecting anyone and he is most certainly not MAGA, he is simply collapsing a corrupt system at peak bubble. I will leave it for you to decide if that is good or bad, just rest assured that millions of American jobs and today’s overpriced/overlevereged stock market will soon go up in smoke.
This is a wonderful look at the subject matter and the damage Mr. Trump has already done.
Trade War Hits Home: Trump’s Asinine Protectionism
Donald Trump is unjustifiably furious with Harley-Davidson for responding to tariffs in ways that any business in competitive markets must – namely, by minimizing its exposure to these government-imposed artificially higher costs (“Trump’s Motorcycle Club Revenge,” June 27). And he screeches like a banana-republic authoritarian when he threatens to impose more punitive taxes on Harley.
Finally, Trump reveals his cluelessness about competitive business when he suggests that, in moving more production overseas, Harley will suffer because Harley’s “customers are already very angry at them.” Obviously, Harley believes that its customers would be even more angry with it if it charges the higher prices that it must charge were it not to escape as much as possible the higher costs created by Trump’s asinine protectionism.
Don Boudreaux at Cafe Hayek puts it succinctly “Trump is insufferably stupid and officious on matters of trade.“
Indeed he is.
Paul Craig Roberts has the best advice for President Trump.
When are America’s global corporations and Wall Street going to sit down with President Trump and explain to him that his trade war is not with China but with them? The biggest chunk of America’s trade deficit with China is the offshored production of America’s global corporations. When the corporations bring the products that they produce in China to the US consumer market, the products are classified as imports from China.
Until the above happens, prepare for implosion.
Our stock market mathematical works points towards something very interesting in that regards. If you would like to find out what happens next, based on our timing and mathematical work, please Click Here
