Cobra's Market View

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The U.S. stock market has already priced in backtracking on the large and sweeping “liberation day” tariffs announced by President Donald Trump on April 2, making it difficult for the market to keep up its recent rally, according to Sevens Report Research.

“The Trump administration has seriously backtracked on the April 2 announcement, including a delay while negotiations take place and exempting major categories of imports,” said Tom Essaye, founder and president of Sevens Report Research, in a note Monday. As an example of tariff exemptions, Essaye pointed to computer chips, electronics, pharmaceuticals and automobiles.

Trades w 2 Cats wrote: ↑Tue May 06, 2025 12:39 pm ES 06-25 (45000 Tick Volumetric) 2025_05_06 (9_35_18 AM).png
Today's distribution looks like a flat market with a very thinly traded spike. Guessing it really locks down towards the end of the day.

Edit- we are continuing above regular hours VWAP, so bullish tilt.