Would be a good time to hear more from the President on China
Pres. Trump is scheduled to meet with the Hungarian Pres. at 2 PM ET.
You know the routine,
- They sit in the yellow chairs in the Oval office
- Pres. Trump is hunched over
- He answers questions as they take pictures.
- They clear out the press after a while…
Pres. Trump tweeted about an hour ago:
Today – as opposed to last week – the stocks opened lower and stayed lower. They are trading at lows now. Last week, they opened lower, stabilized or moved higher. Closed off lows.
For the Nasdaq the price is at 7645. Its 200 day MA is at 7531.
For the S&P the price is at 2804.50. The 200 day MA is at 2775.83.
The Dow has traded to 25233. That pushed the index to down -700 points on the day.
Both 200 day MAs are in play if the weakness continues.
A move to the 200 day MA on the S&P would represent a 6% decline in the index from the highs.
For the Nasdaq it would represent a greater 7.9% fall.