Today China devalued their currency and the market selloff is reminiscent of August 2015 when exactly the same thing occurred. So we’ve seen this play before.
Back then, the S&P500 dropped ~12% over a two week period. In 2015 the concern wasn’t tariffs or a Trade War, but rather a meltdown of the Chinese economy.
At this point, I’m not concerned. I think this “tit for tat” trade diplomacy is exactly that- tit of tat. And in the big scheme of things is just as insignificant as the 2015 Yuan devaluation…it took about 3 months for the market to recover.
For now I see this as another buying opportunity; although I’m waiting for a lower price. I don’t plan on making a purchase until the S&P500 breaks below its 200 day moving average…~2774.
Watch a 4 minute video where I discuss the recent meltdown showing 50/100/200dma: https://youtu.be/ormj8T6AZRM
Listen to a 5 minute explanation of today’s events at: https://www.wealthsteading.com/294
Investing isn’t for the faint of heart, as always, invest with CAUTION.
The Robots are Coming: A Human’s Survival Guide to Profiting in the Age of Automation available at AMAZON and all fine bookstores.
Listen to the Wealthsteading Podcast to receive updated market commentary:
The 10 Wealth Building Principles can be heard at:
Subscribe to the Wealthsteading Podcast:
via iTunes: https://itunes.apple.com/us/podcast/wealthsteading-podcast/id896417058