W/C 10th Mar - More tariffs & market misery ahead?

This 1 indicator is suggesting onwards and upwards for the SPX/QQQ's + Dow Jones

As usual, my apologies if any data and/or information has changed as a result of Asian/early European trading.

Tariffs and changes to tariffs are seemingly happening on a daily basis. On Friday 7th March 2025 Trump announced that he was ‘considering’ installing tariffs on Russia.

What he considers and what he actually does are two different things (pretty much like every politician/statesperson) so this will be interesting to see how this plays out.

We covered on Friday’s Weekly Wrap that the markets do NOT like uncertainty. More uncertainty = not good and this normally means that the major indices head south or at least tip toe around.

The major US Indices might have hit their cycle lows on Friday 7th March but the weekly charts show that there could be a bit more downside ahead.

In the face of ALL of that, Gold and Silver just quietly went about their business last week. Daily and Weekly Charts below. I’d be concerned about trading into long positions at the moment but that is due the potential rebound of the DXY as well as the major indices.

Gold

Silver

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Let’s dive into the US Indices and a key indicator of where they are likely heading….