In last Monday’s letter I said: “On Sunday, the “reduced” tariffs of $112 billion on Chinese imports went into effect. The markets knew this was coming, so was this figured into the current corrective price action or not? We will see when the markets open on Tuesday.”
Well, the markets knew what was coming, but they acted like they didn’t, and last week the markets gapped lower at the open and then held in the area where they needed to.
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