Tuesday was a tremendous day for our ETF portfolio. It was, sadly, short-lived as Wednesday's action an hour into the trading day has wiped out all of yesterday's gains and then some.
The "explanation" for the selling is the ongoing Turkish tariff taffy pull. Maybe. Or maybe it's the continuing decline in the economy of China while our economy powers forward. Hmmm?
In the end the reasons (whether right or inaccurate) don't matter. What matters to us is the direction and volume of the indexes. We'll watch carefully through the 4 PM close at what traders are doing and not what talkers are talking about.
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