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.Continue reading “Buy the dip? WAIT for 200dma”
Tag Archives: Chinese Yuan
Closed out overweight position in US Dollar
Today I closed out my 50% position in the US Dollar. I still believe the dollar will perform well in 2016; however, with the current market downtrend the dollar broke my targeted support level. If conditions continue to deteriorate then the dollar will likely test the lows from August which would be a 4% decline. Continue reading “Closed out overweight position in US Dollar”