Chevron Corp. will reduce share buybacks this quarter after oil prices tumbled, indicating that President Donald Trump’s trade war is hurting a key US industry he pledged to help.

Bill Strazzullo, Bell Curve Trading chief market strategist, said in a latest program on CNBC that the market isn’t done going down and urged investors not to buy every dip and wait for real opportunities. The analyst made some specific predictions about the market bottom:

Friday, after the oil and gas giant reported quarterly profit that dropped, but beat expectations, while production was flat and revenue fell short of forecasts. The Houston-based company said reasons for the earnings decline included reduced profitability on refined product sales and lower realizations,