A big down on the US markets last night with most index's down...

A big down on the US markets last night with most index's down over 2%.
Can likely expect a blood bath here today.

I added a few notes in relation to the post I did on the weekend and mentioned a bit about Trump, Oil's demand and China's economy slowing on the weekends thread,
https://hotcopper.com.au/posts/36458915/single



Oil has since reversed all of its gains last night.
This comes even though the Saudis had announced production cuts of up to 500,000 bpd in December.
Probably expect an added drop for oil stocks today...


I also mentioned what Trump said he would do if Democrats continued to investigate him and how I believed this to be a major negative for markets going forward.
Traders/investors had been hoping for Democrats and Republicans to find some middle ground so they could work together and continue to stimulate the US economy.

News releases have come out yesterday that Democrats are continuing to investigate Trump,
https://www.marketwatch.com/story/h...trumps-role-in-hush-money-payments-2018-11-11

The investigations and attacks all seem to be of personal nature so I don't expect Trump to react well..
It's looking more and more unlikely that Trump or Democrats will not work together on anything which would be very bearish for markets...



Trump is also stepping up his attacks on China in the "Trade Wars".

From the looks of it, the Trade Wars seem to be more about stopping China's rise than protecting jobs in the US..
For this reason I'm not expecting the trade tariffs to be cut when China and the US meet for talks at the end of this month.
https://www.washingtonpost.com/news...8507e1b326b3929054729/?utm_term=.20e613b515fb



US500 Daily Chart




Nasdaq Daily Chart




Brent Oil Futures - Daily Chart




Outlook is bearish AF!