S&P 500 falls into the opening gap | Forexlive

The problem with this rally is that it was front-run hard. The tide really turned on the market after Bessent’s private comments and the White House private meeting with Walmart, Target, Home Depot and other retailers. A hint of that was that shipping out of China has spiked in the past two weeks.

There is a lingering sense that too many people knew this was coming and that much of the buying the past three weeks was in anticipation of today. Yes, the details are probably better than expected but there may have been some massive leveraged trades betting on exactly this.

Now they’re taking profits in an economy that’s still wracked by turmoil and uncertainty.

I still think the path is ultimately higher but is there enough here to chase markets to fresh all-time highs?

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