News of no trade meeting with President Xi sored market sentiment.
When Larry Kudlow said early on Thursday that we had a long way to go before reaching a trade agreement with China, the Dow fell -200 points. When President Trump followed up with news there would not be a meeting with President Xi before the tariff deadline date of March 1st, the Dow dropped another 200 points.
Sentiment was already damaged by the economic downgrade of Europe by numerous analysts and agencies.
Add to this witches brew the declining earnings growth in Q1 and suddenly investor sentiment is collapsing.
The S&P futures are down -13 on Thursday evening. Friday would probably not be a good day to enter new positions.
Unfortunately, we are still recovering from our server crash the prior week and the website is only partially functional. I have 3 programmers working on it as I type this. My mind is not on the market but server recovery instead.
Rather than force some plays today, I will send out a complete newsletter this weekend after we see if this decline is going to continue or cooler heads will start buying the dip.
Thank you for your patience.
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