Relief Rally or False Start? Market Structure in Focus” – April 10 Recap
After yesterday’s historic relief rally, today delivered a stark reminder that trust and stability still remain fragile.
Markets saw a whipsaw day with extreme sell-offs, fueled by rapidly eroding confidence in the tariff policy direction and the broader leadership narrative. The credibility hit is real — and it’s showing up in price action.
Key Observations:
Despite the sharp pullback (S&P down 5%, Nasdaq similar), the market still remains structurally intact.
We are above the highs of April 6th and April 8th, a critical area to watch for support.
On the 60-minute and lower timeframes, we continue to print higher lows, showing a degree of technical resilience even amid volatility.
Why This Matters:
The violent swings — 10% rally, then a 5% fade — suggest that sentiment remains fragile. Bulls are still nervous, and bears haven’t fully taken control either.
What we need next is not another spike. We need stability:
Consolidation above these higher low structures
A hold of today’s low — a breach here could signal renewed downside
What to Watch:
If today’s lows break, we may revisit deeper support zones and enter another selling wave.
If we hold, and volatility compresses, the setup for a directional move builds.
For now, patience is the edge. This is a tape to monitor closely, not rush.
Shawn
Disclosure
The information provided in this article is for educational purposes only and should not be considered as financial advice. Trading and investing in financial markets involve substantial risk, and it is important to conduct your own research and consult with a qualified financial professional before making any investment decisions. The author is not responsible for any financial losses or gains that may result from actions
Trading futures, stocks, and options involves significant risk and is not suitable for all investors. This content is for educational purposes only and does not constitute financial advice.