[Christian Harris]

• The S&P 500 has broken a major support level of 5,235.48
• The next major support (buy) level is 4,967.23

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[Major Trader 35]

What mental day for US and global markets. Both the S&P and Nasdaq down over 3% following recession fears.

Reuters also flagged that it’s the biggest three day percentage decline for the three key US indices since June 2022 and the lowest point for the S&P and Nasdaq since early May.

Apple, Microsoft and Nvidia are sliding in the technology space as well as others. The VIX also posted its highest close since 2020 demonstrating the level of uncertainty in the markets.

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[Christian Harris]

Absolutely. The markets are overextended and due for a healthy correction.

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