The market had been edging higher all session, but with a sense of cautiousness.  That anxiety is now morphing into selling after President Trump said he was looking for a “complete deal” rather than piecemeal trade deal that has been suggested by China.  His comments triggered the China farm delegation to cancel its visit to American farms and announce they would be returning to China sooner than planned.

There was a knee-jerk move lower in the markets, although some buyers jumped in to buy the intraday dip.

While nobody on Wall Street will officially say there will be a deal before the election, and all modelling should factor for the trade battle ensuing further, there are many that secretly think a deal happens.  President Trump says he doesn’t need a deal before the election.

Tech Weakness

The real weakness today has been in Technology sector where certain pockets have begun to look like circular firing squads.

Viewer Eyeballs

Consumer viewing has become the Wild West, creating a lot of unknowns, and that is weighing on all the players of streaming and content.

Roku (ROKU) got a sell rating and target of $60 this morning.

Netflix (NFLX) is getting hit on a cautious Wall Street note and Reed Hastings own admission starting in November “it’ll be tough competition.”