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Seeing the pre-market rebound this morning, I have to admit this is one of the toughest calls I’ve faced. Did Friday’s Trump-triggered selloff truly break the market—or not? At this point, I can’t say with confidence. Based strictly on Friday’s price and indicator patterns, the uptrend was broken. But today’s early recovery could still repair the damage if it carries just a few points higher from the current 6644 level. As Europe opened around 3 AM NY time, the S&P was already testing 6660—the threshold I identified as critical to re-establish the uptrend.
For now, we wait to see how the session resolves. Ideally, that clarity comes today.
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