S&P 500 index price rebounds as tariff reprieve lifts tech stocks, but resistance levels remain in focus
Index rises to 5,440 as markets weigh trade policy and tech sector momentum
U.S. equities rose sharply on Monday, buoyed by easing concerns around President Trump’s evolving trade policy. The S&P 500 and Nasdaq each gained more than 1%, while the Dow Jones Industrial Average surged over 350 points, driven by strength in tech and bank stocks.
Apple led the rebound with a 7% rally after the White House announced a temporary exemption on tariffs for computers and electronics — a move that helped stabilize broader risk sentiment.
S&P 500 price dynamics (December 2024 - April 2025) Source: TradingView.
Tariff relief fuels tech rally, but uncertainty lingers
The Trump administration’s short-term pause on tariffs for certain Chinese electronics gave a much-needed boost to sectors heavily reliant on global supply chains. However, the optimism was tempered after Trump clarified that the exemptions are temporary, with specific tariffs on semiconductors expected soon. This mixed messaging has characterized the administration’s shifting stance, creating volatility across U.S. equities and global currencies in recent weeks.
Investors welcomed the reprieve, sending Apple shares higher, while Tesla and Nvidia gained 3% each. Goldman Sachs also added 2.5% after delivering stronger-than-expected quarterly results. Despite the upbeat performance, traders remain cautious as upcoming tariff announcements could again pressure corporate earnings and supply chain stability.
Technical levels signal critical juncture for S&P 500
From a technical standpoint, the S&P 500 index is staging a sharp recovery after last week’s steep correction. Currently trading around 5,440, the index has rebounded from a low near 4,850. A bullish MACD crossover and RSI recovery to 52.39 on the 4-hour chart suggest building upside momentum, though not yet confirmation of a full trend reversal.
The index has reclaimed short-term moving averages (20 and 50 EMA), but remains below the 100 and 200 EMAs, now acting as dynamic resistance near 5,655 and 5,744, respectively. A confluence of resistance between 5,636 and 5,707 will be key — if cleared with volume, bulls may target the 5,850–5,900 zone. However, failure to break above this cluster could trigger a pullback toward the 5,280–5,320 support band.
The recent rebound in the S&P 500 aligns with earlier technical alerts of potential support around 4,850. As noted, until a break above the 5,750 mark occurs, the broader trend remains cautiously bearish.
