Wall Street reached record highs again this week, until Friday. Trump announced that the meeting with China President Xi will be cancelled and the markets sold off. Apparently, China is placing numerous restrictions on rare earth metals from their mines across the globe, essentially controlling how much certain countries will be able to purchase or trade with them. These are important for high tech devices. This is the main reason why the Trump administration wants to bring manufacturing back to the States as well as open our own mines around the globe. By having other countries control the supply, they will always have leverage. Think about Europe continuing to buy oil from Russia, essentially funding their war machine against Ukraine.



We will see if today's selloff has any legs next week and if we can find a safe entry point for some trades. Until then, have a great weekend!