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.Continue reading “Buy the dip? WAIT for 200dma”

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”