Please be very careful with this market rally.

Even with Nvidia beating earnings, and on blocked tariff news, there’s reason to be concerned. While markets are finding reason to enjoy the blocked tariffs, markets may be cheering too early. Way too early…

“But while the court ruling halts levies that would pressure corporate profit margins and drive consumer prices higher, it also adds another layer of complexity at a time when investors are trying to look past trade headwinds,” as noted by CNBC.

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We also have to consider that President Trump will likely challenge the latest ruling. Plus, Goldman Sachs pointed out the president can implement a tariff of up to 15% under Section 122 of the 1974 Trade Act.

While we’d like to see the Dow Jones break above double-top resistance at around 42,821, it could also break down substantially — especially if the current ruling on tariffs is overturned, or if President Trump uses tariffs under Section 122 of the 1974 Trade Act.So, just be cautious when trading.

Sincerely,

Ian Cooper