The S&P 500 is trading sharply higher, up 83点（+1.47%）至5751点, as the index tests and briefly moves above the 38.2%回撤位 of the decline from the February 19 high, which comes in at 5750.19. A sustained move above this level would mark a bullish technical shift.

Friday’s close held near the 100-小时移动平均线为5666.99 (blue line on the chart above), but today’s open gapped well above that level, fueled by optimism around reduced tariff disruptions linked to President Trump's so-called 4月2日“解放日”. While geopolitical rhetoric can shift quickly, markets are currently welcoming the prospect of fewer tariffs and the potential for 通胀压力减轻.

The 纳斯达克 is also surging (see chart below), with price action gapping above its own 100-小时移动平均线为17，787.30 (blue line on the chart below). However, it still has work to do, with the 2月18日高点回落38.2% sitting at 18,338.54. The next upside target comes in at the 3月7日震荡高点18，243.58.