Technically weak market was hit again with China tariff news and down we go.
SPY drama around 200 MA continues. It has been tapped so many times, at this point I think it is less relevant. 254.67 is the big number now . If that support breaks there might be some concerns about new lows. There is a also a possibility that market gets stuck in trading range for a while. Overall, bears still in control under 20 and 50 MA. As far as trading, I will be mostly focusing on high beta names and index ETF’s like TQQQ,SQQQ,UVXY etc. Again If you are not sure what to do, just sit out , protect capital and wait for a better market condition.
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