U.S stock market turn lower after new round of tariff

As we mentioned in June, the market might trade sideways, but actually it moved up. And, the market will start moving lower in July as tariff deadline looming. However, the market seems taking a dive today after Trump announced new tariff against Japan and South Korea starting first August. Traders might want to continue to monitor the tariff deadline for most countries, which happen on Wednesday.

If there is no extension of the deadline, then we will see major bearish movement in the stock market.

Dow Jones Industrial Average (INDU)

DJIA index move lower with strong bearish momentum today, which could become a signal of bearish correction. The index might target the trend line, also 43,000 level if the 44,000 could not hold-off the bearish pressure. On the lower side, a close below 41,000 or below the red trend line might invalidate the current bullish trend.

Sea Limited (SE)

SE share prices is undergoing a bearish correction and currently trading near previously broken swing high. Also, it is not far from the daily SMA 100 & 38.2 – 61.8% Fibonacci Retracement levels. When the bearish pressure receded and there is strong bullish reactions from the support levels, traders could start scaling in long positions.