The market delivered a historic rally, breaking through resistance faster than expected despite ongoing geopolitical tension and weak consumer sentiment. The strategy now shifts from cautious to cautiously bullish, with key upside targets at SPY 750 and S&P 7500 while trailing stops move up to last week’s low.
The rally is being driven by a narrow group of leading stocks and a surge in software, tech, and financials, while energy lagged. The VIX is falling but remains out of sync with equities. The trend remains up, and the first warning sign would be daily or weekly closes below recent lows.
Stephen Whiteside
Sunday, April 19, 2026
