Markets got a full weeks worth of news-flow today between additional tariff announcements from the United States and then from China, a big miss on payrolls but wages that remain hot, Federal Reserve Chairman Powell talking about the strength in the economy that warrants additional rate hikes, and Treasury Secretary Mnuchin out there telling the market affectively we’d like to get to a good place but to expect some tough love.

Technicals continue to break down despite the view in some circles that holding the 200 day this week was bullish, we view the move as temporary.  We see broader risk building.

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