With the $ES meltdown, $SPX should be ready for the next major...

With the $ES meltdown, $SPX should be ready for the next major decline escalating the multi-year bear market.

Once a new low is produced, I'd favor an ultra bearish 3/4/5 wave sequence to unfold with 5400-5300 as measured targets for the 3rd.

Although, there would a great chance to cross the August 5120 low for the 5th.

https://x.com/TriggerTrades/status/1907584197025206680


If the 34% tariff is on top of previous tariffs, China's average tariff rate is up 54 ppts this year, swamping what was done in President Trump's first term. Everything now depends on how China reacts. If China devalues the Yuan, that sets off a major risk-off across the world..

https://x.com/robin_j_brooks/status/1907548398460227770

...no sh*t Sherlock, no stones unturned, every corner of the world....except of course Trump's two best buddies - Vlad & Fatty Kim.

JUST IN: The Trump administration has put a 10% tariff on the Heard Island and McDonald which has a population of 0 people and is inhabited only by penguins, per NYP
https://x.com/unusual_whales/status/1907612047321272678