Trump Prepares New Tariffs on 60 Countries

The news could suppress risk appetite by escalating trade war concerns. Although the RSI on the SPX is approaching oversold territory at 34.8, the MACD continues to generate a sell signal. The price remains below both the 20-day (7493) and 50-day (7527) moving averages. Selling pressure is likely to persist in the short term, but the pace of the decline may be limited due to oversold conditions.

NDX dropped 3.1% in the last 24 hours to 28,607, closing below both its 20-day SMA (28,832) and 50-day SMA (29,259). RSI fell to 37, approaching oversold territory, while the MACD line remains below the signal line in negative territory, confirming weak momentum. News that Trump is preparing new tariffs on 60 countries could heighten global trade war concerns, adding further pressure on the tech-heavy index. In the short term, selling pressure is likely to persist, with the index potentially testing the 28,500 support level.

The news indicates that Trump is preparing new tariffs, which could increase global trade uncertainty, boost demand for safe-haven assets, and support the DXY. Technical indicators also confirm the bullish trend: RSI is in strong territory at 65, MACD is above the signal line, and the price is above both the 20-day and 50-day moving averages. However, the RSI approaching overbought territory poses a short-term correction risk. Therefore, the bullish outlook is supported with moderate confidence.