7/11/25 Recap

The SPY has held up fairly well considering how much we were down overnight on the initial shock of the Canada tariff news. After a deeper look it seemed like the tariffs mostly impacted nothing and the market came down, tested the 8 ema and so far has held. The megacaps are really leading the way with NVDA,AMZN,GOOG showing serious strength at the top. We’re now in day 6 of the sideways move and the 21 ema has moved up so much that it is now less than 2% away. This healthy consolidation is what you want to see if you’re bullish.

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