Mid-week market update: The stock market's relief rally arrived this week when the WSJ reported over the weekend that Trump's "Liberation Day" reciprocal tariffs due to be announced on April 2 will be narrowly focused. The S&P 500 rallied to regain its 200 dma. The index pulled back below the 200 dma when Bloomberg reported that "Trump Prepares Auto Tariff Announcement as Soon as Wednesday", though the upside price gap from Monday remains unfilled.
Despite today's downside reversal, recent trends are emerging that indicate a change in the tone of price action.
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