US President Donald Trump responded to China’s retaliation tariffs serious of strongly worded tweets. He said “we don’t need China and, frankly, would be far better off without them.” And, “our great American companies are hereby ordered to immediately start looking for an alternative to China”.
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DOW drops sharply in response to Trump’s tweet and is currently down -440 pts. The rejection by 55 day EMA again keeps near term outlook bearish. Focus should be back on 25440.39 support next week. Break will resume the fall from 27398.68 to 24680.57.
