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Tuesday Already? Short Week Opens at 2,900 on the S&P 500

Posted on the 03 September 2019 by Phil's Stock World @philstockworld

Tuesday Already?  Short Week Opens at 2,900 on the S&P 500We're not off to a good start

Of course we knew last week's "rally" was nothing but BS window-dressing to end the month on a high note, though the indexes were still down overall, giving us a losing month that caused a lot of technical damage on the charts. 

The S&P was at 2,900 last September and we held on all the way until early October, and then we crashed into the end of the year, hitting 2,400 at Chrismas, down 17.25% and it took us all the way until April to get back to 2,900 – and here we still are! 

Tuesday Already?  Short Week Opens at 2,900 on the S&P 500

"Well we know where we're going
But we don't know where we've been
And we know what we're knowing
But we can't say what we've seen
And the future is certain

Give us time to work it out" – Talking Heads 

What is certain is that Trump did carry out his evil scheme to put more tariffs on Chinese products that US Consumers have to pay for and, as we feared (though was denied last week), China IMMEDIATELY retaliated by placing a levy on US crude imports, encouraging buyers to stop buying US OIl, which is exactly what Trump's donors didn't want though, of course, Putin wins again as Russia is China's largest supplier.  China also placed tariffs on additional US Goods and the Chinese Government has filed a complaint with the World Trade Organization, who are very likely to rule against Trump so our next crisis may be pulling out of the WTO.  

Tuesday Already? Short Week Opens 2,900 S&PHong Kong protests are getting worse, not better and we're now 60 days away from a "NO DEAL" Brexit that will throw the EU into chaos and UK Prime Minister, Boris Johnson has said he will call for new elections (they can do that) if Parliament tries to block


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