Tariff Rumors, Relief Rallies & A Market Ready to Rip? – April 8 Game Plan
Market Context and Game Plan
Good morning traders — it’s April 8, and the tone has completely shifted from the chaos of last week.
Yesterday felt like a bottoming process finally took shape. For the first time in days, the market held its ground and even flirted with a green close. Now, new developments overnight have sparked a significant relief rally — one that might have legs.
What’s fueling the rally?
Word on the street is that several billionaire investors and business leaders are pressuring President Trump to reconsider or delay tariffs across the board. The whispers of a 90-day delay surfaced during yesterday’s session, causing a violent spike in ES from the low 5100s all the way to 5300 — but the news was never confirmed.
Still, the idea is catching fire.
Current Market Snapshot (8:10 AM EST)
SPY ETF: Up 3%
ES & NQ Futures: Up 1.5%
VIX: Dropping
UVXY: Down 10%, currently around 35 (off highs of 48–49)
This is textbook relief rally behavior, fueled by policy rumors, short-covering, and a desperate need for stabilization.
Price Levels to Watch
ES currently trading ~5246
If we get follow-through, retest of 5300 is very much in play
Above 5300 opens the door for a technical reclaim of the prior trend structure
Game Plan for April 8
Today is not a day for shorting the open. The setup is classic Gap-and-Go, and the best trade is likely going to be on continuation.
Watch for first 5–10 minutes to set the tone
If price flags or holds VWAP, consider entries on high volume breakouts
Use 30-min structure from yesterday’s spike as reference zones
This is a day to ride momentum, not fight it. The volatility is still real, but sentiment has clearly shifted to the bullish side — at least for now.
Will the White House confirm a delay? Will the rally hold?
We’ll be watching the tape closely all session. For now, the plan is simple: no shorts, only strength.
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.