S&P 500 Daily Update for Thursday April 10, 2025

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Daily Update for Thursday, April 10th":

The market experienced significant volatility last week with big down days, followed by a capitulation to the upside on Wednesday due to an announcement about tariff adjustments. This triggered a short cover rally as many participants who were short the market had to buy back at higher prices to limit losses. Despite the upward movement, the market remains negative in the short and intermediate term, with mixed signals in the long term.

A significant move in the bond market, with interest rates jumping from 3.99% to 4.5% in just a few trading days, may have contributed to the tariff announcement to settle the markets. The stock market bounce is seen as a reaction to an oversold condition, but more follow-through is needed to change the overall negative outlook.

Technical indicators show some improvement but remain largely negative, with the market filling a gap from the previous week but not repairing much damage. Longer-term support levels are holding for now, but a potential "death cross" (50-period moving average crossing below the 200-period) looms, especially for the NASDAQ.

The market is "psychotic," with big moves blowing through key levels, requiring further observation to regain control.

PDF of Charts and Slides used in today's video:
https://drive.google.com/file/d/1eqQM5Cd2tUtf857ZxtIQfagfbRxng5cS/view?usp=sharing

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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!