The first week of the new quarter ended in red. The S&P 500 index fell 1.3% last week. The trade war between the US and China intensified and then came Friday’s employment report which came short of expectations. Until recently, I believed that the market is expected to continue to decline mainly due to technical reasons, but now, a technical configuration, combined with fundamental economic concerns may accelerate the declines. Let’s take a technical view of the market.

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