My earlier call for a possible end to the US stock market correction may be premature as we are now faced with two new uncertainties. The first is the Syrian crisis - a possible US and alliance retaliation for Syrian chemical attacks with Russia vowing to shoot down any missiles into Syria and an uncontrollable POTUS "get ready Russia" tweet that is equally disturbing. The second is yesterday's FBI raid on Michael Cohen's (Trump's lawyer) and I just saw CNN's interview with Stormy Daniel's lawyer who seem confident that there is possible damning evidence in the investigation that could potentially make this case problematic for Mr Cohen extending to the POTUS himself.
The other uncertainty of a US China trade war although has simmered down is not totally resolved. And in a months time, we have Kim to contend with if he meets with POTUS.
So for me it's toe dipping into the market at this stage as we can expect a subdued market sentiment to linger on. The Dow is climbing a wall of worries and seemed to be rather resilient ; as long as the recent lows are not taken out, it may prevail. But in the end the support can only hold for such number of attempts.
