Trading Day Recap - Wednesday, 4/23/25
TSLA 0.00%↑ reported after the bell yesterday and even though the company missed car revenue by 20% from a year earlier, the stock jumped on news that Elon Musk is coming back to take the helm and is almost done with his work in DC.
The bigger news for the market though and I think the stimulus for the massive rally in indices overnight: Trump saying he was not looking to fire the FED. A day earlier the market had capitulated on a Trump tweet calling Powell a loser but overnight the market responded to Trump’s latest positive comments regarding the FED with a 500 point rally in the NQ.
I was tempted to get in at the 6:00 p.m. open but held off.
But I missed seeing the ES come down to the globex open and bounce forming the overnight low. If I had been at my desk around 9:30 p.m last night I probably would’ve taken that trade.
This morning I was not looking to trade with the market being up 3%. But on days like this there can always be a hint of bad news that can bring the sellers in and this is what happened.
Scott Bessentt the Treasury Secretary gave a speech outlining the new administrations economic policy and in remarks right after when asked about China tariffs made the statement above.
The market immediately started to sell off. I did not see the tweet until 30 minutes later but when I did and the ES retraced even though it was far from the EMA I took the trade and took a break from my desk.
When I came back to check 90 minutes later the trade had gone roughly 120 points in my favor and then rallied taking me out for the day.
I must say, I was a bit upset at myself for having let those points go unclaimed today. Walking away from the desk is not taking responsibility for my trading.
There have been days when I have walked away come back at the close and have captured 500 points but more often than not, the market moves against me and takes me out. This is something I need to correct real quick.
Some more data on tap tomorrow but the market is completely reliant on Trump’s tweets and statements right now.
I hope you dear reader have been trading well.