Trump’s Tariff Suspension Announcement Lifts U.S. Indices
Trump announced a 90-day suspension of tariffs for countries that have chosen to cooperate and entered into negotiation talks with the U.S. At the same time, the president declared an increase in retaliatory tariffs on China to 125%.
In response to the news, U.S. indices are experiencing record-breaking rallies. The S&P 500 is up over 5%, the Nasdaq 100 is gaining more than 7%, and the Dow Jones is rising nearly 6%. The surge in indices has almost erased the losses caused by last week’s announcement of retaliatory tariffs.
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The Nasdaq 100, represented by US100, has broken above September low at 18,379. Bulls need to reclaim 19,195 level to prevent further downside, while bears will aim for a break below the April low at 17,176 — a move that could open the path to even lower levels. The RSI has broken above levels which usually lead to reversal. Source: xStation
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