Tuesday, April 8 — It was another "Toilet Tuesday" as the markets reversed early gains and sold off hard, with the S&P, NASDAQ, Russell, and semis all failing at key anchored VWAP levels and continuing to trade below declining 5-day moving averages. The bounce ran into clear supply and faded, reinforcing that we remain in a downtrend where rallies are suspect. Day trading remains the only viable strategy for most right now, but it’s a high-risk environment with wild intraday swings and no structural support yet forming. Biotechs and financials continue to break down, and even bonds are rolling over. Palantir and Tesla both hit resistance and reversed sharply. Until we see rising moving averages and evidence of sustained buying, this remains a trader’s market—not one for bottom-picking or swing longs.
