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S&P 500 Hanging Man Reversal Bar
The S&P 500 closes with a bearish Hanging Man Candlestick on the daily chart. This is a reversal candle after SPX has filled the tariff selloff gap at 6040. If SPX closes below the low of today's candle, it will be confirmed and lead to another pullback to test Monday's tariff low.
S&P 500 will likely get a higher low or lower low to confirm a bottom. The January low will likely not be taken out. Support levels are marked below with VWAP and horizontal support levels, the CPI gap fill and the Fibonacci retracements.
The 61.8% fib comes in at 5909 the 78.6% fib is at 5849, which is near the CPI gap fill. Once the pullback completes the advance should resume.
This pullback could be with earnings or the jobs report on Friday or possible concerns about China's retaliatory tariffs.
$SPX $SPY $ES_F #SP500 $QQQ $AMZN #jobs $NDX $NVDA #FOMC #Powell #inflation #tariffs #tradewar $AAPL $MSFT $GOOG $TSLA #stockmarketcrash
I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan โ reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl.ย Nearly 10,000 frontline personnel are and will be working on protecting the border.
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In addition, Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, launch a Canada- U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering. I have also signed a new intelligence directive on organized crime and fentanyl and we will be backing it with $200 million.
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Proposed tariffs will be paused for at least 30 days while we work together.