Buy the dip? WAIT for 200dma

Today China devalued their currency and the market selloff is reminiscent of August 2015 when exactly the same thing occurred.  So we’ve seen this play before.

Back then, the S&P500 dropped ~12% over a two week period.  In 2015 the concern wasn’t tariffs or a Trade War, but rather a meltdown of the Chinese economy.

At this point, I’m not concerned.  I think this “tit for tat” trade diplomacy is exactly that- tit of tat.  And in the big scheme of things is just as insignificant as the 2015 Yuan devaluation…it took about 3 months for the market to recover.

For now I see this as another buying opportunity; although I’m waiting for a lower price.  I don’t plan on making a purchase until the S&P500 breaks below its 200 day moving average…~2774.

Watch a 4 minute video where I discuss the recent meltdown showing 50/100/200dma:   https://youtu.be/ormj8T6AZRM

Listen to a 5 minute explanation of today’s events at:  https://www.wealthsteading.com/294

Investing isn’t for the faint of heart, as always, invest with CAUTION.

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