4/28/25 Recap

Alot of things are having a normal rest day after that rapid move up last week, the 8 ema on the SPY is about crossover the 21 for the first time in a long time and things are looking ok in the market. It feels like we’re pulling back to test the 8 ema at 540 which is healthy action. We all await what big tech has in store for us Wednesday and Thursday. Bessent said he’s working on 16-18 deals and could have something soon, Japan meanwhile refuted us this morning saying a deal was not close until we drop tariffs so they don’t seem to be the one, could it be India? Also Bessent had a line in yesterday’s interview where he said all the back and forth was on purpose to create “strategic uncertainty” as that is part of game theory and our relationship with China was “complicated”. Frankly, I think most of you are smart enough to read that and surmise that things are not going well for us with China. Just keep an open mind here and don’t panic as there is a gap from 4 sessions ago below that is ripe to be filled.

My Open Book