4/9/26 Recap
The SPY is bouncing right off the 50 day now for the 2nd straight day and now pushing through the 100 day to clear all the moving averages. This is the issue with trying to be bearish with Trump in office, he’s the most stock focused President we’ve ever had and just like last year when he sent the market up 10% in 1 session on his tariff pause he just saved the market today by apparently calling Netanyahu and telling him to stop the attacks. The market looks great now, once you’re over all the moving averages you’re in the clear, obviously the deadline still looms but 2 days ago we were in a bad spot under the 200 day, under the 21 ema because Trump was threatening to end Iranian civilization and 48 hours later he’s backed off and we’re back to normal. He’s a very tough guy to try and fade because he always seems to pivot to doing what equities need right when they need it done. We need the 8 and 21 ema to catch up, we need a little sideways move and once we bounce off these moving averages we can push higher. The 2 week ceasefire is our chance to let all that happen digesting yesterday’s big move, hopefully we end this and do not escalate things. Other than that we have the tiny issue of oil rising 8% today which says we may not be done with the middle east conflict although it does seem like Trump may be over this.
Top Gainers From Yesterday’s Recap
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