GOLD AND S&P 500 OUTLOOK:
- Gold prices bounce back after a small drop in the previous trading session
- S&P 500 notches a small loss, but finishes the session off its worst levels
- This article looks at key S&P 500 levels to watch in the coming days
Recommended by Diego Colman
Get Your Free Gold Forecast
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Gold prices (XAU/USD) recovered on Thursday following a small pullback in the previous day, up 0.5% to $2,015 in late afternoon trading, underpinned by falling U.S. government bond rates, with the 10-year yield down about 5 basis points to 3.54% and coming within striking distance from breaking below its 200-day simple moving average. With this gain, XAU/USD has risen 1.5% in April, after a solid 8% rally in March.
The U.S. Treasury curve shifted downwards sharply after U.S. macroeconomic data, such as jobless claims and existing home sales, disappointed consensus estimates, reinforcing the view that the U.S. economy continues to soften and could head into a painful downturn in the coming quarters. Although the outlook remains fluid, downside risks have certainly risen lately.
The increased likelihood of a recession, which tends to be deflationary, is likely to lead the Fed to wrap up its tightening campaign sooner rather than later to prevent economic scarring. Once the FOMC hits the stop button, rates usually start to retreat quickly, as traders attempt to front-run the subsequent easing cycle. This scenario should be bullish for precious metals.
The policy-pivot narrative regained traction on Thursday after ultra-hawk Federal Reserve Bank of Cleveland President Loretta Mester signaled support for another hike, while simultaneously acknowledging that the bank is getting closer to the end of its tightening journey. This could mean one last 25 bps hike at the May FOMC meeting, followed by a pause.
Meanwhile, the S&P 500 posted moderate losses, down 0.6% to 4,130, despite the beneficial move in yields, with bulls failing to overcome selling pressure at every opportunity, amid growing concerns about corporate earnings. While some companies have managed to post constructive results, big names such as Netflix and Tesla have disappointed expectations, reinforcing headwinds for the tech space.
From a technical standpoint, the S&P 500 has been stuck between two trendlines, as shown in the chart below, with the upper one (green) acting as resistance and the lower one (yellow) behaving as support. After Thursday’s pullback, the index appears to be about to test trendline support at 4,100. If this floor is taken out, we could see a slide towards 4,075, followed by 4,035.
On the other hand, if bulls manage to defend current levels and trigger a turnaround, initial resistance stretches from 4,175 to 4,200. In the event of a bullish breakout, buying interest could accelerate in the coming days, setting the stage for a move towards 4,310, a key ceiling defined by the 61.8% Fibonacci retracement of the 2022 sell-off.
Recommended by Diego Colman
Get Your Free Equities Forecast
S&P 500 TECHNICAL ANALYSIS
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FormInterceptor(this,element)start()this.linkInterceptor.start(),this.formInterceptor.start()stop()this.linkInterceptor.stop(),this.formInterceptor.stop()shouldInterceptLinkClick(element,url)return this.shouldRedirect(element)linkClickIntercepted(element,url)var frame=this.findFrameElement(element);frame&&frame.delegate.linkClickIntercepted(element,url)shouldInterceptFormSubmission(element,submitter)return this.shouldSubmit(element,submitter)formSubmissionIntercepted(element,submitter)var frame=this.findFrameElement(element,submitter);frame&&(frame.removeAttribute("reloadable"),frame.delegate.formSubmissionIntercepted(element,submitter))shouldSubmit(form,submitter)var action=getAction(form,submitter),meta=this.element.ownerDocument.querySelector('meta[name="turbo-root"]'),meta=expandURL(null!=(meta=null==meta?void 0:meta.content)?meta:"/");return this.shouldRedirect(form,submitter)&&locationIsVisitable(action,meta)shouldRedirect(element,submitter)submitter=this.findFrameElement(element,submitter);return!!submitter&&submitter!=element.closest("turbo-frame")findFrameElement(element,submitter)element.getAttribute("data-turbo-frame");if(submitter&&"_top"!=submitter)element=this.element.querySelector(`#$submitter:not([disabled])`);if(element instanceof FrameElement)return elementclass Historyconstructor(delegate)this.restorationIdentifier=uuid(),this.restorationData=,this.started=!1,this.pageLoaded=!1,this.onPopState=event=>this.shouldHandlePopState()&&(event=(event.state,this.onPageLoad=event=>__async$3(this,null,function*()yield function nextMicrotask()return Promise.resolve()(),this.pageLoaded=!0),this.delegate=delegatestart()(addEventListener("popstate",this.onPopState,!1),addEventListener("load",this.onPageLoad,!1),this.started=!0,this.replace(new URL(window.location.href)))stop()this.started&&(removeEventListener("popstate",this.onPopState,!1),removeEventListener("load",this.onPageLoad,!1),this.started=!1)push(location2,restorationIdentifier)this.update(history.pushState,location2,restorationIdentifier)replace(location2,restorationIdentifier)this.update(history.replaceState,location2,restorationIdentifier)update(method,location2,restorationIdentifier=uuid())method.call(history,turbo:restorationIdentifier:restorationIdentifier,"",location2.href),this.location=location2,this.restorationIdentifier=restorationIdentifiergetRestorationDataForIdentifier(restorationIdentifier)updateRestorationData(additionalData)var restorationIdentifier=this["restorationIdentifier"],restorationData=this.restorationData[restorationIdentifier];this.restorationData[restorationIdentifier]=Object.assign(Object.assign(,restorationData),additionalData)assumeControlOfScrollRestoration()var 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Navigator{constructor(delegate)this.delegate=delegateproposeVisit(location2,options=)this.delegate.allowsVisitingLocationWithAction(location2,options.action)&&(locationIsVisitable(location2,this.view.snapshot.rootLocation)?this.delegate.visitProposedToLocation(location2,options):window.location.href=location2.toString())startVisit(locatable,restorationIdentifier,options=)this.stop(),this.currentVisit=new Visit(this,expandURL(locatable),restorationIdentifier,Object.assign(referrer:this.location,options)),this.currentVisit.start()submitForm(form,submitter)this.stop(),this.formSubmission=new FormSubmission(this,form,submitter,!0),this.formSubmission.start()stop()this.formSubmission&&(this.formSubmission.stop(),delete this.formSubmission),this.currentVisit&&(this.currentVisit.cancel(),delete this.currentVisit)get adapter()return this.delegate.adapterget view()return this.delegate.viewget history()return this.delegate.historyformSubmissionStarted(formSubmission)"function"==typeof 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this.view.renderPage(responseHTML),this.view.scrollToTop(),this.view.clearSnapshotCache()))formSubmissionErrored(formSubmission,error)console.error(error)formSubmissionFinished(formSubmission)"function"==typeof this.adapter.formSubmissionFinished&&this.adapter.formSubmissionFinished(formSubmission)visitStarted(visit2)this.delegate.visitStarted(visit2)visitCompleted(visit2)this.delegate.visitCompleted(visit2)locationWithActionIsSamePage(location2,action)var anchor=getAnchor(location2),currentAnchor=getAnchor(this.view.lastRenderedLocation),isRestorationToTop="restore"===action&&void 0===anchor;return"replace"!==action&&getRequestURL(location2)===getRequestURL(this.view.lastRenderedLocation)&&(isRestorationToTopvisitScrolledToSamePageLocation(oldURL,newURL)this.delegate.visitScrolledToSamePageLocation(oldURL,newURL)get location()return this.history.locationget restorationIdentifier()return this.history.restorationIdentifiergetActionForFormSubmission(formSubmission)varformElement:formSubmission,submitter=formSubmission,submitter=getAttribute("data-turbo-action",submitter,formSubmission);return isAction(submitter)?submitter:"advance"}(prototype=PageStage=PageStage||)[prototype.initial=0]="initial",prototype[prototype.loading=1]="loading",prototype[prototype.interactive=2]="interactive",prototype[prototype.complete=3]="complete";class PageObserverconstructor(delegate)this.stage=PageStage.initial,this.started=!1,this.interpretReadyState=()=>var readyState=this["readyState"];"interactive"==readyState?this.pageIsInteractive():"complete"==readyState&&this.pageIsComplete(),this.pageWillUnload=()=>this.delegate.pageWillUnload(),this.delegate=delegatestart()(this.stage==PageStage.initial&&(this.stage=PageStage.loading),document.addEventListener("readystatechange",this.interpretReadyState,!1),addEventListener("pagehide",this.pageWillUnload,!1),this.started=!0)stop()this.started&&(document.removeEventListener("readystatechange",this.interpretReadyState,!1),removeEventListener("pagehide",this.pageWillUnload,!1),this.started=!1)pageIsInteractive()this.stage==PageStage.loading&&(this.stage=PageStage.interactive,this.delegate.pageBecameInteractive())pageIsComplete()this.pageIsInteractive(),this.stage==PageStage.interactive&&(this.stage=PageStage.complete,this.delegate.pageLoaded())get readyState()return document.readyStateclass ScrollObserverconstructor(delegate)this.started=!1,this.onScroll=()=>this.updatePosition(x:window.pageXOffset,y:window.pageYOffset),this.delegate=delegatestart()stop()this.started&&(removeEventListener("scroll",this.onScroll,!1),this.started=!1)updatePosition(position)this.delegate.scrollPositionChanged(position)class StreamObserverconstructor(delegate)this.sources=new Set,this.started=!1,this.inspectFetchResponse=event=>var response=function fetchResponseFromEvent(event)event=null==(event=event.detail)?void 0:event.fetchResponse;if(event instanceof FetchResponse)return event(event);response&&function fetchResponseIsStream(response)response=null!=(response=response.contentType)?response:"";return response.startsWith(StreamMessage.contentType)(response)&&(event.preventDefault(),this.receiveMessageResponse(response)),this.receiveMessageEvent=event=>this.started&&"string"==typeof event.data&&this.receiveMessageHTML(event.data),this.delegate=delegatestart()stop()this.started&&(this.started=!1,removeEventListener("turbo:before-fetch-response",this.inspectFetchResponse,!1))connectStreamSource(source)(this.sources.add(source),source.addEventListener("message",this.receiveMessageEvent,!1))disconnectStreamSource(source)this.streamSourceIsConnected(source)&&(this.sources.delete(source),source.removeEventListener("message",this.receiveMessageEvent,!1))streamSourceIsConnected(source)return this.sources.has(source)receiveMessageResponse(response)return __async$3(this,null,function*()var html=yield response.responseHTML;html&&this.receiveMessageHTML(html))receiveMessageHTML(html)this.delegate.receivedMessageFromStream(new StreamMessage(html))class ErrorRenderer extends Rendererrender()return __async$3(this,null,function*()this.replaceHeadAndBody(),this.activateScriptElements())replaceHeadAndBody()vardocumentElement,head,body=document;documentElement.replaceChild(this.newHead,head),documentElement.replaceChild(this.newElement,body)activateScriptElements()for(const replaceableElement of this.scriptElements)var element,parentNode=replaceableElement.parentNode;parentNode&&(element=this.createScriptElement(replaceableElement),parentNode.replaceChild(element,replaceableElement))get newHead()return this.newSnapshot.headSnapshot.elementget scriptElements()return[...document.documentElement.querySelectorAll("script")]class PageRenderer extends Rendererget shouldRender()return this.newSnapshot.isVisitable&&this.trackedElementsAreIdenticalprepareToRender()this.mergeHead()render()return __async$3(this,null,function*()this.willRender&&this.replaceBody())finishRendering()super.finishRendering(),this.isPreviewget currentHeadSnapshot()return this.currentSnapshot.headSnapshotget newHeadSnapshot()return this.newSnapshot.headSnapshotget newElement()return this.newSnapshot.elementmergeHead()this.copyNewHeadStylesheetElements(),this.copyNewHeadScriptElements(),this.removeCurrentHeadProvisionalElements(),this.copyNewHeadProvisionalElements()replaceBody()this.preservingPermanentElements(()=>this.activateNewBody(),this.assignNewBody())get trackedElementsAreIdentical()return this.currentHeadSnapshot.trackedElementSignature==this.newHeadSnapshot.trackedElementSignaturecopyNewHeadStylesheetElements()for(const element of this.newHeadStylesheetElements)document.head.appendChild(element)copyNewHeadScriptElements()for(const element of this.newHeadScriptElements)document.head.appendChild(this.createScriptElement(element))removeCurrentHeadProvisionalElements()for(const element of this.currentHeadProvisionalElements)document.head.removeChild(element)copyNewHeadProvisionalElements()for(const element of this.newHeadProvisionalElements)document.head.appendChild(element)activateNewBody()document.adoptNode(this.newElement),this.activateNewBodyScriptElements()activateNewBodyScriptElements()for(const inertScriptElement of this.newBodyScriptElements)var activatedScriptElement=this.createScriptElement(inertScriptElement);inertScriptElement.replaceWith(activatedScriptElement)assignNewBody()document.body&&this.newElement instanceof HTMLBodyElement?document.body.replaceWith(this.newElement):document.documentElement.appendChild(this.newElement)get newHeadStylesheetElements()return this.newHeadSnapshot.getStylesheetElementsNotInSnapshot(this.currentHeadSnapshot)get newHeadScriptElements()return this.newHeadSnapshot.getScriptElementsNotInSnapshot(this.currentHeadSnapshot)get currentHeadProvisionalElements()return this.currentHeadSnapshot.provisionalElementsget newHeadProvisionalElements()return this.newHeadSnapshot.provisionalElementsget newBodyScriptElements()return this.newElement.querySelectorAll("script")class SnapshotCacheconstructor(size)this.keys=[],this.snapshots=,this.size=sizehas(location2)return toCacheKey(location2)in this.snapshotsget(location2)var snapshot;if(this.has(location2))return snapshot=this.read(location2),this.touch(location2),snapshotput(location2,snapshot)return this.write(location2,snapshot),this.touch(location2),snapshotclear()this.snapshots=read(location2)return this.snapshots[toCacheKey(location2)]write(location2,snapshot)this.snapshots[toCacheKey(location2)]=snapshottouch(location2)var location2=toCacheKey(location2),index=this.keys.indexOf(location2);-1setTimeout(()=>resolve(),0))(),snapshot=snapshot.clone(),this.snapshotCache.put(location2,snapshot),snapshot)getCachedSnapshotForLocation(location2)return this.snapshotCache.get(location2)get snapshot()return PageSnapshot.fromElement(this.element)get shouldCacheSnapshot()return this.snapshot.isCacheablefunction extendURLWithDeprecatedProperties(url)Object.defineProperties(url,deprecatedLocationPropertyDescriptors)const deprecatedLocationPropertyDescriptors=absoluteURL:get()return this.toString(),session=new class Sessionconstructor()this.navigator=new Navigator(this),this.history=new History(this),this.view=new PageView(this,document.documentElement),this.adapter=new BrowserAdapter(this),this.pageObserver=new PageObserver(this),this.cacheObserver=new CacheObserver,this.linkClickObserver=new LinkClickObserver(this),this.formSubmitObserver=new FormSubmitObserver(this),this.scrollObserver=new ScrollObserver(this),this.streamObserver=new StreamObserver(this),this.frameRedirector=new FrameRedirector(document.documentElement),this.drive=!0,this.enabled=!0,this.progressBarDelay=500,this.started=!1start()(this.pageObserver.start(),this.cacheObserver.start(),this.linkClickObserver.start(),this.formSubmitObserver.start(),this.scrollObserver.start(),this.streamObserver.start(),this.frameRedirector.start(),this.history.start(),this.started=!0,this.enabled=!0)disable()this.enabled=!1stop()this.started&&(this.pageObserver.stop(),this.cacheObserver.stop(),this.linkClickObserver.stop(),this.formSubmitObserver.stop(),this.scrollObserver.stop(),this.streamObserver.stop(),this.frameRedirector.stop(),this.history.stop(),this.started=!1)registerAdapter(adapter)this.adapter=adaptervisit(location2,options=)this.navigator.proposeVisit(expandURL(location2),options)connectStreamSource(source)this.streamObserver.connectStreamSource(source)disconnectStreamSource(source)this.streamObserver.disconnectStreamSource(source)renderStreamMessage(message)document.documentElement.appendChild(StreamMessage.wrap(message).fragment)clearCache()this.view.clearSnapshotCache()setProgressBarDelay(delay)this.progressBarDelay=delayget location()return this.history.locationget restorationIdentifier()return this.history.restorationIdentifierhistoryPoppedToLocationWithRestorationIdentifier(location2,restorationIdentifier)this.enabled?this.navigator.startVisit(location2,restorationIdentifier,action:"restore",historyChanged:!0):this.adapter.pageInvalidated()scrollPositionChanged(position)this.history.updateRestorationData(scrollPosition:position)willFollowLinkToLocation(link,location2)return this.elementDriveEnabled(link)&&locationIsVisitable(location2,this.snapshot.rootLocation)&&this.applicationAllowsFollowingLinkToLocation(link,location2)followedLinkToLocation(link,location2)this.visit(location2.href,action:action)convertLinkWithMethodClickToFormSubmission(link)var linkMethod=link.getAttribute("data-turbo-method");if(linkMethod)"undefined",form.hidden=!0,link.hasAttribute("data-turbo-confirm")&&form.setAttribute("data-turbo-confirm",link.getAttribute("data-turbo-confirm"));linkMethod=this.getTargetFrameForLink(link);return linkMethod?(form.setAttribute("data-turbo-frame",linkMethod),form.addEventListener("turbo:submit-start",()=>form.remove())):form.addEventListener("submit",()=>form.remove()),document.body.appendChild(form),dispatch("submit",cancelable:!0,target:form)return!1allowsVisitingLocationWithAction(location2,action)return this.locationWithActionIsSamePage(location2,action)visitProposedToLocation(location2,options)extendURLWithDeprecatedProperties(location2),this.adapter.visitProposedToLocation(location2,options)visitStarted(visit2)this.notifyApplicationAfterVisitingLocation(visit2.location,visit2.action)visitCompleted(visit2)this.notifyApplicationAfterPageLoad(visit2.getTimingMetrics())locationWithActionIsSamePage(location2,action)return this.navigator.locationWithActionIsSamePage(location2,action)visitScrolledToSamePageLocation(oldURL,newURL)this.notifyApplicationAfterVisitingSamePageLocation(oldURL,newURL)willSubmitForm(form,submitter)var action=getAction(form,submitter);return this.elementDriveEnabled(form)&&(!submitterformSubmitted(form,submitter)this.navigator.submitForm(form,submitter)pageBecameInteractive()this.view.lastRenderedLocation=this.location,this.notifyApplicationAfterPageLoad()pageLoaded()this.history.assumeControlOfScrollRestoration()pageWillUnload()this.history.relinquishControlOfScrollRestoration()receivedMessageFromStream(message)this.renderStreamMessage(message)viewWillCacheSnapshot()this.notifyApplicationBeforeCachingSnapshot()allowsImmediateRender(element,resume)return!this.notifyApplicationBeforeRender(element,resume).defaultPreventedviewRenderedSnapshot(snapshot,isPreview)this.view.lastRenderedLocation=this.history.location,this.notifyApplicationAfterRender()viewInvalidated()this.adapter.pageInvalidated()frameLoaded(frame)this.notifyApplicationAfterFrameLoad(frame)frameRendered(fetchResponse,frame)this.notifyApplicationAfterFrameRender(fetchResponse,frame)applicationAllowsFollowingLinkToLocation(link,location2)return!this.notifyApplicationAfterClickingLinkToLocation(link,location2).defaultPreventedapplicationAllowsVisitingLocation(location2)return!this.notifyApplicationBeforeVisitingLocation(location2).defaultPreventednotifyApplicationAfterClickingLinkToLocation(link,location2)return dispatch("turbo:click",target:link,detail:url:location2.href,cancelable:!0)notifyApplicationBeforeVisitingLocation(location2)return dispatch("turbo:before-visit",detail:url:location2.href,cancelable:!0)notifyApplicationAfterVisitingLocation(location2,action)return markAsBusy(document.documentElement),dispatch("turbo:visit",detail:url:location2.href,action:action)notifyApplicationBeforeCachingSnapshot()return dispatch("turbo:before-cache")notifyApplicationBeforeRender(newBody,resume)return dispatch("turbo:before-render",detail:newBody:newBody,resume:resume,cancelable:!0)notifyApplicationAfterRender()return dispatch("turbo:render")notifyApplicationAfterPageLoad(timing=)return clearBusyState(document.documentElement),dispatch("turbo:load",detail:url:this.location.href,timing:timing)notifyApplicationAfterVisitingSamePageLocation(oldURL,newURL)dispatchEvent(new HashChangeEvent("hashchange",oldURL:oldURL.toString(),newURL:newURL.toString()))notifyApplicationAfterFrameLoad(frame)return dispatch("turbo:frame-load",target:frame)notifyApplicationAfterFrameRender(fetchResponse,frame)return dispatch("turbo:frame-render",detail:fetchResponse:fetchResponse,target:frame,cancelable:!0)elementDriveEnabled(element)element=null==element?void 0:element.closest("[data-turbo]");return this.drive?!elementgetActionForLink(link)link=link.getAttribute("data-turbo-action");return isAction(link)?link:"advance"getTargetFrameForLink(link)((frame=link.closest("turbo-frame"))?frame.id:void 0)get snapshot()return this.view.snapshot;var prototype=session["navigator"];function start()session.start()function registerAdapter(adapter)session.registerAdapter(adapter)function visit(location2,options)session.visit(location2,options)function connectStreamSource(source)session.connectStreamSource(source)function disconnectStreamSource(source)session.disconnectStreamSource(source)function renderStreamMessage(message)session.renderStreamMessage(message)function clearCache()session.clearCache()function setProgressBarDelay(delay)session.setProgressBarDelay(delay)function setConfirmMethod(confirmMethod)FormSubmission.confirmMethod=confirmMethodvar Turbo=Object.freeze(__proto__:null,navigator:prototype,session:session,PageRenderer:PageRenderer,PageSnapshot:PageSnapshot,start:start,registerAdapter:registerAdapter,visit:visit,connectStreamSource:connectStreamSource,disconnectStreamSource:disconnectStreamSource,renderStreamMessage:renderStreamMessage,clearCache:clearCache,setProgressBarDelay:setProgressBarDelay,setConfirmMethod:setConfirmMethod);class SnapshotSubstitutionconstructor(element)this.visitCachedSnapshot=(element:element2)=>varid,clone=this;null!=(element2=element2.querySelector("#"+id))&&element2.replaceWith(clone),this.clone=element.cloneNode(!0),this.id=element.idfunction getFrameElementById(id)if(null!=id)id=document.getElementById(id);if(id instanceof FrameElement)return idfunction activateElement(element,currentURL)if(element)var src=element.getAttribute("src");if(null!=src&&null!=currentURL&&function urlsAreEqual(left,right)return expandURL(left).href==expandURL(right).href(src,currentURL))throw new Error(`Matching element has a source URL which references itself`);if((element=element.ownerDocument!==document?document.importNode(element,!0):element)instanceof FrameElement)return element.connectedCallback(),element.disconnectedCallback(),elementconst StreamActions=after()this.targetElements.forEach(e=>var _a;return null==(_a=e.parentElement)?void 0:_a.insertBefore(this.templateContent,e.nextSibling)),append()this.removeDuplicateTargetChildren(),this.targetElements.forEach(e=>e.append(this.templateContent)),before()this.targetElements.forEach(e=>var _a;return null==(_a=e.parentElement)?void 0:_a.insertBefore(this.templateContent,e)),prepend()this.removeDuplicateTargetChildren(),this.targetElements.forEach(e=>e.prepend(this.templateContent)),remove()this.targetElements.forEach(e=>e.remove()),replace()this.targetElements.forEach(e=>e.replaceWith(this.templateContent)),update()this.targetElements.forEach(e=>e.innerHTML="",e.append(this.templateContent));class StreamElement extends HTMLElementconnectedCallback()return __async$3(this,null,function*()tryyield this.render()catch(error)console.error(error)finallythis.disconnect())render()return __async$3(this,null,function*()var _a;return null!=(_a=this.renderPromise)?_a:this.renderPromise=__async$3(this,null,function*()this.dispatchEvent(this.beforeRenderEvent)&&(yield nextAnimationFrame(),this.performAction())))disconnect()trythis.remove()catch(_a)removeDuplicateTargetChildren()this.duplicateChildren.forEach(c=>c.remove())get duplicateChildren()var _a,existingChildren=this.targetElements.flatMap(e=>[...e.children]).filter(c=>!!c.id);const newChildrenIds=[...null==(_a=this.templateContent)?void 0:_a.children].filter(c=>!!c.id).map(c=>c.id);return existingChildren.filter(c=>newChildrenIds.includes(c.id))get performAction()if(this.action)var actionFunction=StreamActions[this.action];if(actionFunction)return actionFunction;this.raise("unknown action")this.raise("action attribute is missing")get targetElements()return this.target?this.targetElementsById:this.targets?this.targetElementsByQuery:void this.raise("target or targets attribute is missing")get templateContent()return this.templateElement.content.cloneNode(!0)get templateElement()if(this.firstElementChild instanceof HTMLTemplateElement)return this.firstElementChild;this.raise("first child element must be a

