Last Monday I wrote about ‘The Wall of Worry’ the market was climbing. A lot of people did not know what that meant so here is a definition:

Wall of worry is the financial markets’ periodic tendency to surmount a host of negative factors and keep ascending. Wall of worry is generally used in connection with the stock markets, referring to their resilience when running into a temporary stumbling block, rather than a permanent impediment to a market advance.

I was skimming the streams last night and I had no idea it was so ugly for so may countries beyond China and Bitcoin. But some large countries and markets are in some serious drawdowns outside the USA.

The question is when and where will the house of pain start – if ever – for the US ?

I don’t really trust much of what I read when it comes to opinions but I believe the trade war will have many unintended consequences.

I think we will know a lot more in the coming months about how resilient US stocks can be as other markets suffer in this connected world.

I am enjoying my wins while they last as always nothing remains too good for too long.