4/10/26 Recap
The SPY is back over all the moving averages as we discussed yesterday and has 2 options here, either we press up very quickly from here and avert the 50/200 cross coming in the next 2 weeks or we form a lower high here and reverse lower but right now as long as we’re over the 21 ema we are in a new uptrend. How long it lasts, we shall see we still have the ceasefire deadline looming in less than 2 weeks, I’d imagine restarting the war, spiking oil, etc would not be taken well by equities. So lots of risk still even though for the moment things look good. From the sounds of Trump he wants to move on from this war now but its really not his call, if Iran doesn’t play nice with Hormuz, then Donald has to do something or look weak and we know he won’t let himself look weak. So lots left to unfold in the coming few sessions and earnings season kicks off next week.
Top Gainers From Yesterday’s Recap
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