Stocks opened positively this week, influenced by reports suggesting President Trump's tariffs could be more selective rather than broad, enhancing market optimism. The S&P 500 future's recovery above its 200-day moving average indicates a temporary rally, following a four-week decline. Mixed sentiment from the US and German data and some strong PMI figures contributed to this uplift. However, the author remains skeptical about lasting stability, encouraged by early signals but wary of the anticipated trade negotiation 'noise' as the April deadline approaches.
The optimism in the market stems from reports that Trump's proposed tariffs may be more targeted than previous blanket measures, which the administration did not deny.
Despite a seemingly positive start to the week with S&P 500 reclaiming its 200-day average, caution prevails among tactical bears like myself about long-term recovery.
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