The safe sectors is where big money is putting its capital. Utilities are practically on the brink of new all-time highs. I'd also like to add stocks supporting the military or have big dollars in the Pentagon defense budget are also holding up well and attracting a lot of interest too. Just take a look at Northrop Grumman (NOC), Lockheed Martin (LMT) and L3Harris (LHX) for examples.
The higher the yuan climbs (i.e. weakens against the US dollar) the more pressure it puts on US producers in their efforts to sell their products to the Chinese (it takes more Yuan to buy a US goods).
Jerome Powell's circus yesterday, coupled with Trump's untimely Chinese tariffs tweets today, has instantly put this market into a tale-spin. Short -term support levels are being violated across the board, and traders are being whip-lashed all over the board. The past two days have represent one of the hardest stretches for traders in 2019. It is headline driven off of Tweets and Pressers, and there is literally zero predictability in this market.
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