{"id":63894,"date":"2025-04-10T02:00:06","date_gmt":"2025-04-10T07:00:06","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=63894"},"modified":"2025-04-10T12:32:13","modified_gmt":"2025-04-10T17:32:13","slug":"market-trends-april-10","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/","title":{"rendered":"Tariffs Slashed After Bond Freakout"},"content":{"rendered":"<p>Downloads are available\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-public-materials-Oct-2024b.zip\">here<\/a>. Our new MT ES v2 workspace is <a href=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/MT-ES-v2.zip\">here<\/a>. TradeStation\u2019s ideas on TradingView are available\u00a0<a href=\"https:\/\/www.tradingview.com\/broker\/TradeStation\/ideas\/\">here<\/a>.<\/p>\n<p>Check out our next \u201c<a href=\"https:\/\/streamyard.com\/watch\/3hrVRv7rWa8E\" target=\"_blank\" rel=\"noreferrer noopener\">State of the Market<\/a>,\u201d on Monday, 4\/14. Next Market Trends is on 4\/17.<\/p>\n<h2 class=\"wp-block-heading\">Sizing Up the Market<\/h2>\n<ul>\n<li>S&amp;P 500 may face range between roughly 4,950 and 5,500\n<ul>\n<li>4,950 is near weekly lows from late February and April 2024<\/li>\n<li>5,491 is mid-point of range so far in 2025, opening price on 4\/3<\/li>\n<\/ul>\n<\/li>\n<li>At its low this week, just 6 members of the S&amp;P 500 above 20-day MA, matching low end of decade-long range<\/li>\n<li>Wilder&#8217;s Relative Strength Index (RSI) hit the lowest since February 2020 on Tuesday<\/li>\n<li>Intermarket:\n<ul>\n<li>10-year Treasury yield back above June 2008 high of 4.32<\/li>\n<li>VIX peaks slightly above 60\n<ul>\n<li><em>Has the 10-year yield made a <span style=\"text-decoration: underline;\">higher low<\/span> as S&amp;P 500 makes a <span style=\"text-decoration: underline;\">lower high<\/span>?<\/em><\/li>\n<li><em>Will S&amp;P 500 remain rangebound with VIX still above 20?<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div id=\"attachment_63901\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-63901\" class=\"size-large wp-image-63901\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-1024x449.jpg\" alt=\"\" width=\"1024\" height=\"449\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-1024x449.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-300x132.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-768x337.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-1536x674.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409-1080x474.jpg 1080w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/SPX_20250409.jpg 1919w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><p id=\"caption-attachment-63901\" class=\"wp-caption-text\"><em>S&amp;P 500, daily chart, with select patterns and indicators.<\/em><\/p><\/div>\n<h2>Tariffs Delayed<\/h2>\n<ul>\n<li>Trump lowers most tariffs to 10% for 90 days, pending negotiations<\/li>\n<li>China rate hiked to 125%<\/li>\n<li>Policy reversal followed overnight Treasury selloff<\/li>\n<li>Scott Bessent: Last week&#8217;s rates were a &#8220;ceiling&#8221;<\/li>\n<li>Positive takeaways:\n<ul>\n<li>Maximum tariff rate known<\/li>\n<li>Potential pivot to tax cuts<\/li>\n<li><em>Could there be a &#8220;wall of worry&#8221; into earnings?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Negative takeaways:\n<ul>\n<li>Ongoing trade war with China<\/li>\n<li>Uncertainty about tariffs amid 90-day pause<\/li>\n<li>Inflation expectations potentially rooted<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Views Before the Reversal<\/h2>\n<ul>\n<li>Jamie Dimon warned tariffs made recession &#8220;a likely outcome.&#8221;<\/li>\n<li>Goldman Sachs warned of recession risk and further downside potential\n<ul>\n<li>Withdrawn after Trump reversal<\/li>\n<\/ul>\n<\/li>\n<li>Vanguard warned of &#8220;dancing with recession.&#8221;<\/li>\n<li>Neel Kashkari (Minneapolis Fed\/non-voter) warned tariffs made it harder to cut rates<\/li>\n<li>Fitch warns of tariff impact on credit profiles of retailer and consumer<\/li>\n<li>Reuters\/Ipsos poll: 73% of Americans see tariffs lifting prices<\/li>\n<li>Reuters: 10-year Treasury yield premium reflects anxiety about U.S. creditworthiness<\/li>\n<li>CNBC noted potential chaos at ports with orders rejected<\/li>\n<li>DAL, WMT withdrew guidance amid uncertainty<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Upcoming Events<\/h2>\n<ul class=\"wp-block-list\">\n<li>Fri 4\/11: PPI\n<ul class=\"wp-block-list\">\n<li>Earnings: JPM WFC MS BLK BK<\/li>\n<\/ul>\n<\/li>\n<li>Mon 4\/14: GS<\/li>\n<li>Tue 4\/15: BAC, C, JNJ<\/li>\n<li>Wed 4\/16: Retail sales, crude-oil inventories, NAHB housing index<\/li>\n<li>Thu 4\/17: Jobless claims, housing starts\/building permits\n<ul class=\"wp-block-list\">\n<li>Earnings: TSM AXP | NFLX<\/li>\n<\/ul>\n<\/li>\n<li>Fri 4\/18: Market closed (Good Friday)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Downloads are available\u00a0here. Our new MT ES v2 workspace is here. TradeStation\u2019s ideas on TradingView are available\u00a0here. Check out our next \u201cState of the Market,\u201d on Monday, 4\/14. Next Market Trends is on 4\/17. Sizing Up the Market S&amp;P 500 may face range between roughly 4,950 and 5,500 4,950 is near weekly lows from late [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":63321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[1276,13],"tags":[],"class_list":["post-63894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","category-stocks","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tariffs Slashed After Bond Freakout | Market Insights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tariffs Slashed After Bond Freakout | Market Insights\" \/>\n<meta property=\"og:description\" content=\"Downloads are available\u00a0here. Our new MT ES v2 workspace is here. TradeStation\u2019s ideas on TradingView are available\u00a0here. Check out our next \u201cState of the Market,\u201d on Monday, 4\/14. Next Market Trends is on 4\/17. Sizing Up the Market S&amp;P 500 may face range between roughly 4,950 and 5,500 4,950 is near weekly lows from late [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeStation\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-10T07:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-10T17:32:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"David Russell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:site\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Russell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/\",\"url\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/\",\"name\":\"Tariffs Slashed After Bond Freakout | Market Insights\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"datePublished\":\"2025-04-10T07:00:06+00:00\",\"dateModified\":\"2025-04-10T17:32:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage\",\"url\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"contentUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tradestation.com\/insights\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tariffs Slashed After Bond Freakout\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\",\"url\":\"https:\/\/www.tradestation.com\/insights\/\",\"name\":\"Market Insights\",\"description\":\"Fresh market commentary and actionable trade ideas.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\",\"name\":\"David Russell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"caption\":\"David Russell\"},\"description\":\"David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. 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Sizing Up the Market S&amp;P 500 may face range between roughly 4,950 and 5,500 4,950 is near weekly lows from late [&hellip;]","og_url":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/","og_site_name":"Market Insights","article_publisher":"https:\/\/www.facebook.com\/TradeStation\/","article_published_time":"2025-04-10T07:00:06+00:00","article_modified_time":"2025-04-10T17:32:13+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg","type":"image\/jpeg"}],"author":"David Russell","twitter_card":"summary_large_image","twitter_creator":"@TradeStation","twitter_site":"@TradeStation","twitter_misc":{"Written by":"David Russell","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/","url":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/","name":"Tariffs Slashed After Bond Freakout | Market Insights","isPartOf":{"@id":"https:\/\/www.tradestation.com\/insights\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage"},"image":{"@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg","datePublished":"2025-04-10T07:00:06+00:00","dateModified":"2025-04-10T17:32:13+00:00","author":{"@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4"},"breadcrumb":{"@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#primaryimage","url":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg","contentUrl":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/Market-trends-thumbnail-Feb-2025.jpg","width":1920,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/www.tradestation.com\/insights\/2025\/04\/10\/market-trends-april-10\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tradestation.com\/insights\/"},{"@type":"ListItem","position":2,"name":"Tariffs Slashed After Bond Freakout"}]},{"@type":"WebSite","@id":"https:\/\/www.tradestation.com\/insights\/#website","url":"https:\/\/www.tradestation.com\/insights\/","name":"Market Insights","description":"Fresh market commentary and actionable trade ideas.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4","name":"David Russell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg","caption":"David Russell"},"description":"David Russell is Global Head of Market Strategy at TradeStation. 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