US stocks fall below support
Trade war worries are beginning to dominate once again comments and reports indicated that the US and China are both hunkering down for an extended fight.
The S&P 500 opened 17 points lower to fall through the key 2800 level and down to 2785. The drop breaks the May and late-March lows and also cuts through the 100-day moving average. The 200-day is at 2775 and looms large now. Also notably, the 21-dma is crossing below the 55-dma. That lat time that happened was in October and was followed by a 15% drop in the next two months.
