S&P 500: Running Into Resistance
After a strong stretch recently, the S&P 500 is pulling back slightly in premarket trading, backing away from its highs on the daily (1D) timeframe. Compared to the volatility of last week, this one has been relatively calm—but that could change fast.

One of the key players dragging sentiment lower this morning is Nvidia (NVDA), which is taking a sharp hit after announcing it expects to accrue $5.5 billion in charges due to restrictions on exports to China. That’s a major headline, and it’s putting pressure on the entire chip sector.

If other major chipmakers follow suit and slip into the red today, it could mean more downside for the index. On the technical side, the S&P is still hovering near a significant trendline of resistance on the daily chart. If bulls can break above the current consolidation zone, that level will be a critical one to watch for potential rejection—or a breakout.
-Frank

Data from EdgeFinder
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Gold: Safe Haven Status Reinforced
Gold is the big story of the week. The metal has rallied nearly 11% in just seven days, driven by renewed concerns around global trade tensions and geopolitical instability. It’s not just traders rushing in—institutions are rotating into gold as uncertainty shakes confidence in equities.

The EdgeFinder, our proprietary software, now ranks gold with the strongest bullish score across all tracked assets. And it’s not just short-term momentum—this move has been building for a while. Since the summer of 2024, gold has steadily pushed higher, and it hasn’t looked back.

At this point, gold is far from being considered undervalued—but its role as a safe haven is more apparent than ever. With stocks becoming increasingly unpredictable, traders are finding comfort in the stability and strength of gold.
-Frank

Data from EdgeFinder
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NASDAQ Turns Bullish
Despite recent volatility, the NASDAQ is now reading as bullish on the EdgeFinder, scoring a +8. Price action is currently testing support around 18,300, with the Put/Call ratio signaling extreme fear—a condition that sometimes precedes a reversal if bearish pressure begins to ease.

Today, the U.S. government doubled tariffs on Chinese semiconductors, raising them from 25% to 50%. This move, framed as part of the CHIPS Act initiative, is aimed at safeguarding domestic chip investments and reducing U.S. dependence on foreign chipmakers. The news sent ripples through the tech sector, especially semiconductors, adding downward pressure to a market already under stress.
-Frank

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Oil Prices Inch Higher
Crude oil inventories rose by 515,000 barrels today, while exports are holding steady above 5 million barrels per day. Oil prices have stabilized around $62, providing some confidence to energy exporters. However, should prices dip back below $60, many energy firms may struggle to justify production costs, potentially curbing future output.
-Frank

Data from EdgeFinder
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