SP500 to 2822 then Re-test 3000

While the SP500 was on track to re-test record highs through today and into tomorrow, Trump doing what Trump does best: rekindling the trade war for seemingly stock market manipulation.

It seems that we are no closer to any trade deal between USA-China, and this continued escalation will continue to wreck havoc on the global economy and eventually USA economic numbers. This will likely force further rate cuts down the road.

I suspect a very similar outcome to what we saw in late May; I am targeting a hard short to 2822 for SP500 before a re-test towards 3000. Trade policy, monetary policy, geopolitical and political issues will indicate at that time whether we fail to re-test 3000 or make new records.

Pro-tip: Long Gold/Silver/Proven Weed Stocks

- zSplit

Comment:

I continue to hold steady at a ~2822 bottom. However, if no Fed cut occurs in the September meeting and tariffs actually go into effect on September 1st, the S&P may continue to drop to late May lows.

Stay tuned for further information.

Comment:

Prediction playing out to 100% accuracy right now. Our bottom was 2822 as I stated and we will potentially get close to 3000 this week but ultimately (IMO) be rejected around 2985.