I hope you had a pleasant weekend regardless of that nasty flip decrease on shares we noticed on Friday. As , the transfer got here after Trump threatened to impose new tariffs on China, following China’s personal restrictions and tighter export controls on uncommon earth metals, that are essential for the tech sector. We’ve seen this story earlier than again in April, and if tariffs come again into focus once more, merchants will probably react with concern — so it’s not a shock we noticed such a robust drop in shares on Friday.
Usually, markets are most delicate when this type of information first hits, after which they have a tendency to stabilize afterward. What’s attention-grabbing, although, is that regardless of the robust sell-off in shares, the greenback index didn’t present the sort of sharp upside response you’d normally anticipate (however its coming properly up from a brand new low from our newest free replace right here) . So I’m questioning if shares can discover some assist, however looks like this may be solely wave B rally, since we’re in the midst of wave 4 retracement. Take note there may be an open hole decrease on futures.
Massive helps is at 6400 and 6200. 
BTW, I additionally recorded the week forward video this weekend, the place I coated additionally FX, Cryptos and metals. Click on right here
Grega
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