Since everything in the markets are trading off the latest tariff headline we will continue to have a lot of volatility which is why I need to depend on technical analysis to help me determine the probabilities associated with the next move. The price action yesterday was consistent with a short term capitulation bottom. We just retested the highs from yesterday and could not sustain a move above them. The key pullback area is between 5068 and 5009 for the S&P June futures. I will be watching for support between those areas, however if we close below 5k again then the probabilities shift to potentially retest Monday's lows. - Mike
Published Apr 08, 2025Updated Apr 08, 20252 min read
Since everything in the markets are trading off the latest tariff headline we will continue to have a lot of volatility which is why I need to depend on technical analysis to help me determine the probabilities associated with the next move. The price action yesterday was consistent with a short term capitulation bottom. We just retested the highs from yesterday and could not sustain a move above them. The key pullback area is between 5068 and 5009 for the S&P June futures. I will be watching for support between those areas, however if we close below 5k again then the probabilities shift to potentially retest Monday's lows. - Mike
