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Thursday, May 29, 2025

#OMG Moment for Markets as Court Rules Against Trump Tariffs

Market Update 

NVIDIA $NVDA beat earnings, but that's not what's moving markets this morning  

Court Rules Against Trump Tariffs

As it turns out the courts are trying to overturn the will of the people, and this isn't the first time... and at this point I think it's safe to call the situation, "a full-blown constitutional crisis". 

'On a mission from God'- After court blocks 'Liberation Day' tariffs, Donald Trump hits back with memes - moneycontrol.com   

 Of course Trump and his lawyers are going to fight back with more than memes, and I'm sure Trump will shut down the ports, if it comes to that. Wall Street may want to take that news sitting down!  

Reviewing the recent market action 

What started out as an ordinary spring shakeout, followed by a massive short squeeze, heading into Memorial Day, has turned into a rather extraordinary market rally, the likes of which the world has not seen since Oct, 2022. 

 $NYSE - Velocity and duration matches the Oct, 2022 rally


Is $SPX 6000 an unexpected bullish breakout? No. I expected this, in fact the target lined up perfectly...

 But what's really behind this rally?

My first thought was that Wall Street, and (insider trading) Congressional leaders, knew this court ruling was in the works, and have been pricing it in from the start, although that can't be confirmed. 

According to duckduckgo (AI) assist: 

"The court challenges to Trump's tariffs were based on cases filed by the Liberty Justice Center and a coalition of U.S. state governments, but specific filing dates are not provided in the available information. The ruling blocking the tariffs was made on May 29, 2025"

Is this news bullish?    

Judging by this morning's $VIX action, it's not bullish at all. 

Initially the $VIX dropped nearly to the 18 level, but all morning I've been watching it climb back, as the pre-market rally faded.

 Edit after the opening bell: Only seeing the Nasdaq up .8%

I have higher targets IF the market makers want to drive the $SPX to new all time highs, but it seems like the smart money is already selling every rip.   

 I saw some clown on Bloomberg claiming that investors had missed the entire rally, and that was why there is a "lack of sellers", while ignoring the fact that the sellers are on vacation. 

Watch Julian Emanuel Says It's Time to Buy Equities - Bloomberg
MSM clown show

 

Never trust the lame stream media, to tell you the truth 

 Take carem AA

 

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