U.S stock market move lower after tariff announcement

The stock market take a bearish blow as new tariff take place. The implementation will start on Aug 7, which mean the countries which has not reached a deal will expect higher tariff. Aside from that, there is new 40% levies on transshipped goods. Traders seems using the current situation to take profit and observe the development of the tariff situation. Nevertheless, the bearish situation might happen for short-term and traders could use the downward movement as chance to enter long positions.

Dow Jones Industrial Average (INDU)

DJIA index touch on the swing high triggered a bearish reaction. The index started to move lower in a bearish correction. It is a common bearish correction, and traders will wait until the bearish pressure receded to add long positions in stocks. On the lower side, the red trend line and the orange (Lower) will become the support levels to watch for bounce reaction.

Blackberry Limited (BB)

BB share prices trading lower and reached the daily SMA 200. It has not shown bullish reactions and might continue lower to target the lower trend line. If the share prices could maintain its position near the daily SMA 200 or the trend line, traders could enter long positions. The area between the trend line and the daily SMA 200 could become the area of interest for long positions.