IXIC: Nasdaq Jumps 4.3% to Blast into Bull Market as US-China Deal Sparks “Everything Rally”

Things were looking terrific on Monday with all three major indexes closing above their 200-day moving averages. Bullishness is in the air.

🐮 Nasdaq Is for the Bulls

• The Nasdaq Composite IXIC soared a whopping 4.3% on Monday with its elite club, the Magnificent Seven, racing through the charts like there’s no tomorrow. The tech-heavy index scored its best day since early April and exited a bear market.
• Not only that — the Nasdaq broke into a bull market with a bang. The index is now 20% above its April 8 low, meaning that the bulls are back in the game.
• Of the Mag 7 stocks, Amazon AMZN was the biggest winner, up 8.1% for the day. The ecommerce giant was followed by Meta META, up 7.9%. Microsoft MSFT was the least winning member, up 2.4%.

🗿 We Are So Back

• The Nasdaq two peers were also surging on investor excitement. The S&P 500 rallied 3.3% and the Dow Jones Industrial Average powered higher by a whopping 1,161 points, or 2.8%, to close more than 10% above its April 8 bottom. Is the “Everything Rally” back?
• By the looks of it, we are so back. The 200-day moving average, indicating whether the trend is bullish or bearish, is now below the closing prices of all three Wall Street averages.

🤠 Markets Go Crazy

• The massive upside swing arrived after Donald Trump and his administration touted “great progress” in the tariff negotiations between the US and China. After a weekend in Geneva, the two sides said they’ve agreed on a trade truce — tariffs are getting slashed by 115% for each side.
• In other words, the US is slapping Chinese goods with a 30% levy, down from 145%, and China is imposing a 10% levy on US goods, down from 125%. And Wall Street like that (and then everyone clapped?).