S&P500 remain under pressure, support at 6580US 500 (per 1.0)TRADENATION:US500TradeNationEquities remain under pressure, with the S&P 500 down 0.92% yesterday, marking: 3rd straight decline (first since September) Worst 3-day stretch since April (-2.61%) Futures down another ~0.5% this morning The index has now broken below its 50-day moving average for the first time in 139 sessions—its longest stretch above the level since 2007—adding to technical downside pressure. Drivers of the Selloff AI trade concerns continue to weigh: Nvidia -1.88%, Philadelphia Semi Index -1.55% JPMorgan’s Daniel Pinto warned of AI-rich valuations posing broader market risk. Broad selling across the S&P: 407 decliners, most in 5 weeks Equal-weight S&P -1.31%, Russell 2000 -1.96%, both at lowest since August Credit risk sentiment deteriorated: US HY +5bps, IG +1bps wider Amazon priced $15bn in new bonds, adding to supply pressure Mega-cap Tech Mag-7 only slightly lower (-0.08%), saved by: Alphabet +3.11% on Berkshire stake news Apple sentiment mixed: Design group loss, but strong China iPhone 17 sales (+37%) provided support Crypto Risk Pressure Bitcoin -3.3%, touching its lowest since April Down ~4% YTD 2025 Down nearly 30% from highs 6 weeks ago Modest rebound this morning helping stabilize risk tone Macro Tone Mass layoffs surged in October (Cleveland Fed) → signs of labour softening Focus shifts to Thursday’s delayed September jobs report for confirmation Trading Takeaway Tone remains fragile, but S&P futures and Bitcoin stabilizing suggest some cooling of the global selloff. Break of the 50-day MA is a key technical negative; next support levels likely in focus. AI sector weakness + broader macro softening remain dominant headwinds today. Key Support and Resistance Levels Resistance Level 1: 6707 Resistance Level 2: 6757 Resistance Level 3: 6785 Support Level 1: 6580 Support Level 2: 6554 Support Level 3: 6530 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.