Today is the monthly options expiration day. If you hold expiring contracts, make sure to roll over in time.
Trump said he will set new tax rates directly for each country in the coming weeks, because it’s not possible for the administration to negotiate with every country one by one.
Japan’s Q1 GDP shrank, with an annualized rate of -0.7%.
U.S. 10-and 20-year Treasury yields pulled back sharply after touching the key 4.5% and 5.0% levels. This eased market stress.
Index futures opened higher again. SPY has returned to the level where it failed to hold the mid-term moving average in early March, which started the recent correction. It’s a full cycle.
The $592–595 range is the upside test for today. If it breaks through, the next target is the recent high.
The downside test has moved up to the $588–586 range.
Most stocks are up in pre-market, with gains spread out evenly.
NVDA, AMD, GOOGL, TSLA and other names that may benefit from Trump’s Middle East trip are leading again.
After strong rallies, many stocks are short-term overbought. A pullback can happen at any time. Be cautious with chasing highs.
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