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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

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IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Friday, March 02, 2018

HOG-Tied

Harley-Davidson Inc. (HOG) may become a casualty of President Trump's "trade war" policies. In particular, his latest threat to impose a 25% tariff on steel imports and 10% on aluminum has produced a retaliatory threat against the U.S. by Europe on companies such as HOG.

No doubt, this new policy, if pursued by the U.S., would be argued before the WTO and have greater implications on other countries and goods/services. My post of November 12, 2016 made mention of the need for the new Trump administration and Congress to consider a number of factors so as not to, potentially, cause economic imbalances and a catastrophic domino effect on the rest of the world. This is a complicated issue and will bring forth many positions/arguments/considerations and may cause further instability in world equity, currency, financial, bond, and commodity markets until a resolution is reached.

Source: ZeroHedge

In the meantime, HOG has broken below the intersection of the lower edge of a long-term uptrending channel and the middle of a shorter-term downtrending channel, as shown on the following monthly chart. This apex sits around the 44.40 level.

Major Fibonacci retracement support sits at 41.93 (50%), while major resistance is 49.94 (60%). Until price breaks above or below this range, we'll likely continue to see trendless, chaotic trading as this already-fragile U.S. company is tied up and used as a pawn in international trade disputes.