Profits are not profits until the stock is sold. Traders did just that today when they took some chips off the table at the prior highs. This is normal and was expected. If the tariff news had remained out of the headlines all we needed was for investors to buy the dip and create a new high to trigger short covering and price chasing ahead of earnings.
Unfortunately, the afterhours session was not good. The president released a list of tariffs on another $200 billion in Chinese products and the S&P futures are down -23 points.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays