Trump imposes new tariffs on imports from China, investors panic, and the market chops. A good level to look at on SPY Futures for the next couple weeks is 5528.00. I believe a break upwards can give bullish investors some confidence , while a rejection could bring even more downside. If we break upwards, possibly revisiting 5840.00, we're going to have to see if we can break that level and get back to the all time high. If we reject and price falls, the level to look at is 4833.00. A break of that support could mean a lot more downside in the coming months. But we're going to have to be patient allow Trump vs China to unfold.
Trade active
Bounced off 5528 and is now slowly crawling down. Hoping to see more downside in the morning and hit a support level
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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.