A 90 day pause on tariffs. Everyone benefits—except China

The market responds the way it usually does to lower trade barriers: it rallies.

What’s changed and what hasn’t.

Some setups now favor mean reversion. Others support trend continuation. Both types are valid. But not everything deserves to stay on our watch list. Let’s separate what’s holding up from what’s not.

The S&P 500 index is bouncing off its 52-week low. We talked about that yesterday. Now we’re seeing rejection at the old cycle highs.

If today ends strong, it marks a shift. The PMO model confirms that with a signal—it triggers when the market closes up more than 1% after an oversold close. SPY is already up 8%.