Post:
SPX saw a sharp reversal after Trump’s renewed tariff threats on China, sparking a broad risk-off move. The index broke sharply from the upper channel, tagging the 21-day EMA and now sitting right on a minor key level within the ascending channel.
Momentum clearly flipped short-term, but the question now is whether there’s enough downside energy to break through both this key level and the channel’s lower boundary — a move that would shift structure from controlled pullback to confirmed trend break.
Key Levels:
• 6,535–6,550: Minor key level + channel support
• 6,750–6,780: Prior rejection zone
• 6,200: Major support if channel breaks
Focus: Watch for confirmation — either buyers step in at channel support, or momentum extends into a deeper structural break.
SPX saw a sharp reversal after Trump’s renewed tariff threats on China, sparking a broad risk-off move. The index broke sharply from the upper channel, tagging the 21-day EMA and now sitting right on a minor key level within the ascending channel.
Momentum clearly flipped short-term, but the question now is whether there’s enough downside energy to break through both this key level and the channel’s lower boundary — a move that would shift structure from controlled pullback to confirmed trend break.
Key Levels:
• 6,535–6,550: Minor key level + channel support
• 6,750–6,780: Prior rejection zone
• 6,200: Major support if channel breaks
Focus: Watch for confirmation — either buyers step in at channel support, or momentum extends into a deeper structural break.
Trading leveraged products carries a high level of risk and may result in losses exceeding your initial investment; ensure you fully understand the risks involved.
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Use your TradingView charts to trade your Alchemy account: bit.ly/42vUfjL
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Use your TradingView charts to trade your Alchemy account: bit.ly/42vUfjL
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trading leveraged products carries a high level of risk and may result in losses exceeding your initial investment; ensure you fully understand the risks involved.
-
Use your TradingView charts to trade your Alchemy account: bit.ly/42vUfjL
-
Use your TradingView charts to trade your Alchemy account: bit.ly/42vUfjL
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.