The Markets
Dip buyers showed up again today — stepping in early and driving a steady intraday climb across SPY, QQQ, IWM, and DIA.
But just as the tape began to firm up, another round of Trump tariff comments — this time targeting China, soybeans, and cooking oil — hit the feed and triggered another sharp late-day selloff.
The Charts
SPY
After nearing its 50-day moving average at 652.73 (low of the day 653.17), SPY bounced most of the session, reclaiming both Friday’s high anchored VWAP and the week-to-date VWAP.
Still, price remains below the 50% retracement and short-term moving averages — keeping this rebound corrective for now.
QQQ
The Nasdaq showed similar action, but QQQ ended the day not only below the 50% retracement, but also beneath the week-to-date and pivot high AVWAPs.
Tech remains the weakest of the major indices.
IWM
IWM continues to lead.
Small caps were the outlier again — bouncing late in the session and even hitting new highs intraday.
That relative strength is notable and worth tracking if it holds.
The Trade
Patience remains an asset.
There are still trades — Rare Earths, Quantum, and Housing all showed strength — but they’re tactical, not swing setups.
In a market that continues to produce sharp reversals out of nowhere, it pays to be nimble: take profits faster, size smaller, and let structure confirm the next move.
Bottom line:
The dip buyers are still showing up — but so are the headline shocks.
Momentum remains fragile.
Stay patient, stay tactical, and respect your levels.
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***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
