It’s quite evident that no amount of “bad” news is going to sink this market. This weekend’s big bombshell about 30% tariffs gave us a bit of red at the open, but an important change has taken place: the 6258 level on the /ES (which, for seven months held the record as the LIFETIME high) was conquered last Wednesday (blue oval) which altered the line from resistance (red arrows) to, now, support (green arrows). Until this line is definitely broken to the downside, the bulls are in total control.
