Tag: Energy Select Sector SPDR Fund

S&P in Narrow Trading Range

S&P is trapped within narrow trading range as traders await the Trump’s administration activates tariffs on Chinese goods worth around $34 billion on Friday, which is widely expected to trigger a tit-for-tat response from Beijing. Technical pressures are building up as the market dances its way into an increasingly tight trading range. S&P’s 2700 marks the inflection point. A failure to hold above key level indicates a change in sentiment and a much deeper pullback should be expected

S&P’s Rally Stalled near Key Level

S&P’s rally stalled near key price level. The index could signal a downward trajectory, depending on how it closes over the next few days. Initial support is defined by the lower boundary of the pink band, around 2485. If it closes below that level, the next leg is likely lower, and we’re looking at 2553, based on the trend channel moving average