3 min readS&P 500 (SDX):
Analysts and traders panicked during Monday morning’s trading session as Trump signalled the first few countries to face tariffs, causing the S&P 500 to gap down by over 1.5%!
A closer look at the technicals clearly shows that the price has rejected this resistance area and is now trading back below the daily 50 EMA. The price appears to be moving lower, returning to internal support regions. Meanwhile, the RSI indicator does not indicate that the price is overbought or oversold in these current areas.
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