{"id":63761,"date":"2025-03-27T02:00:42","date_gmt":"2025-03-27T07:00:42","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=63761"},"modified":"2025-03-27T11:38:23","modified_gmt":"2025-03-27T16:38:23","slug":"market-trends-march-27","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/","title":{"rendered":"Gloom Goes Mainstream: Has Support Become Resistance?"},"content":{"rendered":"<p>Downloads are available\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-public-materials-Oct-2024b.zip\">here<\/a>. 4-chart index workspace <a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-4chart-index.zip\">is here<\/a>. TradeStation\u2019s ideas on TradingView are available <a href=\"https:\/\/www.tradingview.com\/broker\/TradeStation\/ideas\/\">here<\/a>.<\/p>\n<p>Check out our next \u201c<a href=\"https:\/\/streamyard.com\/watch\/MenidArUMYWG\" target=\"_blank\" rel=\"noreferrer noopener\">State of the Market<\/a>,\u201d on Monday, 3\/31.<\/p>\n<h2 class=\"wp-block-heading\">Sizing Up the Market<\/h2>\n<ul>\n<li>S&amp;P 500 stalls at 21-day EMA, January low\n<ul>\n<li><em>Has old support become new resistance?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Recent bounce removed oversold condition\n<ul>\n<li><em>Was last week&#8217;s bounce a pause in downtrend?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Faster MAs under slower MAs<\/li>\n<li>Intermarket: 10-year Treasury yield closed 3\/26 at highest level since 2\/24<\/li>\n<li>Potential downside levels:\n<ul>\n<li>5505: 3\/13 low<\/li>\n<li>5403: 9\/6 low<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div id=\"attachment_63767\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-63767\" class=\"size-large wp-image-63767\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-1024x490.jpg\" alt=\"\" width=\"1024\" height=\"490\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326-1080x516.jpg 1080w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250326.jpg 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-63767\" class=\"wp-caption-text\"><em>S&amp;P 500, with select patterns and indicators.<\/em><\/p><\/div>\n<h2>News &amp; Views<\/h2>\n<ul>\n<li>Gloomy outlooks:\n<ul>\n<li>Moody&#8217;s: U.S. budget deficits, debt becoming less affordable.\n<ul>\n<li><em>Will Moody&#8217;s join S&amp;P, Fitch in stripping USA of AAA status?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Deutsche Bank: 43% chance of recession\n<ul>\n<li><em>Flashback: &#8220;Sahm rule&#8221; (recession indicator) triggered in July as unemployment rose 50bp from low<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Vanguard cuts GDP 2025 estimate from 2.1% to 1.7%<\/li>\n<li>CNBC survey: 60% of CFOs see recession this year, up from 7% in Q4.\n<ul>\n<li><em>Will CFO gloom translate into earnings pessimism ?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Barclays cuts SPX target from 6,600 to 5,900 as &#8220;bear case&#8221; morphs into &#8220;base case&#8221;. Tariffs seen lowering growth, lifting inflation.<\/li>\n<li>BABA Chair Tsai: Potential data center bubble<\/li>\n<\/ul>\n<\/li>\n<li>NY Fed: 9.7 million student borrowers become delinquent after pandemic pause ends<\/li>\n<li>Musalem: Inflation may stall above target amid tariff risk<\/li>\n<li>March consumer confidence of 92.9 misses 94.2 estimate<\/li>\n<li>Potential risk to global stocks:\n<ul>\n<li>Europe: Reciprocal tariffs<\/li>\n<li>China: Crackdown on ocean shippers, Venezuelan oil, Iran sanctions<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Upcoming Events<\/h2>\n<ul class=\"wp-block-list\">\n<li>Earnings this afternoon: LULU<\/li>\n<li>Fri 3\/28: PCE inflation, personal income\/spending<\/li>\n<li>Mon 3\/31: Q1 ends<\/li>\n<li>Tues 4\/1: ISM manufacturing<\/li>\n<li>Wed 4\/2: Reciprocal tariffs announced, ADP employment report, crude-oil inventories<\/li>\n<li>Thu 4\/3: Jobless claims, ISM services<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Downloads are available\u00a0here. 4-chart index workspace is here. TradeStation\u2019s ideas on TradingView are available here. Check out our next \u201cState of the Market,\u201d on Monday, 3\/31. Sizing Up the Market S&amp;P 500 stalls at 21-day EMA, January low Has old support become new resistance? Recent bounce removed oversold condition Was last week&#8217;s bounce a pause [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":63321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1276,13],"tags":[],"class_list":["post-63761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","category-stocks","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gloom Goes Mainstream: Has Support Become Resistance? | Market Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gloom Goes Mainstream: Has Support Become Resistance? | Market Insights\" \/>\n<meta property=\"og:description\" content=\"Downloads are available\u00a0here. 4-chart index workspace is here. TradeStation\u2019s ideas on TradingView are available here. Check out our next \u201cState of the Market,\u201d on Monday, 3\/31. Sizing Up the Market S&amp;P 500 stalls at 21-day EMA, January low Has old support become new resistance? Recent bounce removed oversold condition Was last week&#8217;s bounce a pause [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeStation\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-27T07:00:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-27T16:38:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"David Russell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:site\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Russell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/\",\"url\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/\",\"name\":\"Gloom Goes Mainstream: Has Support Become Resistance? | Market Insights\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"datePublished\":\"2025-03-27T07:00:42+00:00\",\"dateModified\":\"2025-03-27T16:38:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/#primaryimage\",\"url\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"contentUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/03\/27\/market-trends-march-27\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tradestation.com\/insights\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gloom Goes Mainstream: Has Support Become Resistance?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\",\"url\":\"https:\/\/www.tradestation.com\/insights\/\",\"name\":\"Market Insights\",\"description\":\"Fresh market commentary and actionable trade ideas.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\",\"name\":\"David Russell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"caption\":\"David Russell\"},\"description\":\"David Russell is Global Head of Market Strategy at TradeStation. 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