Backs against the wall for stocks in July trading ...Middle East

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Backs against the wall for stocks in July trading
The selloff in the last two weeks has outweighed the gains from the two weeks before. The S&P 500 is now down 0.6% on the month, following an over 2% drop yesterday. Tech shares are bearing the brunt of those declines, with the Nasdaq seeing its worst daily showing since November 2022. So, where does this leave us on the chart?The drop yesterday came after underwhelming earnings from Tesla and Alphabet. The latter saw a beat on earnings but there are warning signs building towards the coming quarters. And that set off a sour mood as investors are worried about how the rest of the Magnificent Seven will be reporting.Anyway, the daily chart above sees the S&P 500 now fall back to test key tren

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