China has started to back off from holding u. S. Treasuries. Lets dive into the action. Lets look at the dow. It breached the 200day moving average. Will p 500 suggesting it go to the 200moving day average. A lot of People Discount the dow. This is a oneyear year chart ahead of the volatility. Thedow has been above 200day moving average, slicing through in december, climbing above it in february. Late may and june the brief exception. Today slightly below. Today, the dow put in a lower a dropich confirms towards last decembers lows. Whether that happens, who knows . If this is a bearish chart the volatility we have seen continues. Thanks. Im watching crude oil come down for a second straight session. The u. S. China trade were threatening demand. Stockpileswing u. S. At a time when we should be seeing stronger demand at the end of the summer driving season. Around 55 a barrel. It is flirting with that average , and sentiment in the market is bearish. Caroline we thank you. More breakin