Market When Closed, Tuesday 22 April

Last updated on Apr 22, 2025

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Feet Found?

by Alex King, CEO, Cestrian Capital Research, Inc

So this happened in the last 24 hours or so.

Firstly, as you know from yesterday’s note, major index ETFs put in a Wave 2 low during Monday and then rallied into Monday’s close, suggesting futher upside ahead.

Secondly, Sec. Bessent at the Treasury was reportedly telling bigs to calm down, relax etc, earlier today.

Of course bigs knew or had a good sense that this was on the way, hence those Wave 2 lows yesterday and indeed hence the whole selloff yesterday, an opportunity for grownups to buy low towards the end of the day.

And finally this:

So let’s check in and see how the market is faring in the light of the big news.

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