U.S stock market under pressure after new tariff plan

The announcement of new auto tariff trigger sell-off today. There is no change to the sentiment yet as S&P500 down 1.38% and Nasdaq down 2.31%. We might see the bearish situation continue tomorrow too. Under current situation, traders will wait until the bearish pressure receded then look for bounce and chance to enter long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index turned lower before it could reach the daily SMA 100. The bearish movement will target the daily SMA 200 and test it. If the index could maintain its position above the level and bounce upward, then there is chance of bullish continuation.

Amazon Inc (AMZN)

AMZN share prices pushed lower below the daily SMA 200 and recently managed to recover above the averages. It is currently under bearish pressure and retesting the averages. If the share prices could maintain its position and bounce upward, then traders could expect bullish continuation toward daily SMA 100.