The broader markets finally gave it up, closing with bearish engulfing bars, suggesting lower prices.
We have been waiting for this reversal after such a bullish run because of the weekly Sell Setups and overbought market internals. We added bearish swing trades at perfect places as you will see in the open positions video below.
The media always likes to point to reasons for market moves. Pick your reasons for the selloff: U.S. merchandise trade deficit widened to a record $891.3 billion in 2018, China trade wars; slowing worldwide growth; recession in European countries and the European Central Bank keeping interest rates below zero longer than expected and planning a new credit facility for banks to induce them to make loans; growing risk of yield curve inversion; stalled progress in denuclearizing N. Korea; etc.
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