SPX Pulls Back Hard — Testing Channel Support After Trade Shock

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.