S&P500 uptrend pause supported at 6355US 500 (per 1.0)TRADENATION:US500TradeNationThe S&P 500 slipped -0.12% after initially rising +0.3%, as Fed Chair Powell’s cautious “wait-and-see” stance on rate cuts dampened sentiment. The metals and mining sector dragged the index lower, falling nearly -4% after the U.S. announced surprise copper tariff details—excluding refined metal until 2027—leading to a sharp -20% drop in COMEX copper futures. However, market sentiment rebounded overnight, driven by strong tech earnings. Meta surged +11.5% post-market on upbeat Q3 guidance and rising AI-driven ad revenues, while Microsoft rose over +8% thanks to better-than-expected Azure cloud growth and a $30 billion AI infrastructure investment. Conclusion: Despite short-term pressure from the Fed’s tone and commodity weakness, strong AI-driven earnings from major tech firms are likely to support a positive bias for the S&P 500 in the near term, especially in the tech-heavy growth segments. Broader gains may depend on upcoming inflation data and Fed clarity. Key Support and Resistance Levels Resistance Level 1: 6470 Resistance Level 2: 6500 Resistance Level 3: 6545 Support Level 1: 6355 Support Level 2: 6315 Support Level 3: 6282 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.