Tuesday, April 8 – Markets are continuing to bounce, but with all major indexes still below a declining 5-day moving average, this remains a rally within a broader downtrend. Key anchors from prior lows are acting as resistance in the S&P and NASDAQ, while the Russell is testing its tariff anchor. Bitcoin may be forming a lower high after hitting prior support-turned-resistance. Biotechs continue to lag with minimal gains, and semis, financials, and energy are bouncing into supply zones. Stocks like Tesla, Palantir, and Nvidia are also running into anchored VWAP resistance. Manage profits carefully—this is still a tactical trader’s market.
