SPY opened at $545.12, -3.5% from the prior session. The high of the day came on the 9:30 AM bar at $547.96, and the low on the 3:55 PM bar at $536.91. The last 5-minute bar closed at $537.64, -4.8% from the prior close, with a range of 2.0% in one session.
The evening before, the White House announced a minimum tariff on imports from every country, with higher rates for the countries the U.S. runs its largest trade deficits with (White House fact sheet).
Could you have traded it?
Play the day from the open in Market Replay with the rest of the chart hidden, and trade it the way you normally would. These are the questions I'd want an answer to by the close:
- After a gap that size, did you short the open or wait for the first bounce?
- Each bounce failed. How many did you buy before you stopped?
- If you were short, where did you take profit, and did you leave before the close?
- What told you this wasn't a day to buy the dip?
Watching the replay needs no account. To trade the day yourself it has to be inside your plan's history: Free replays the last 30 weekdays, Trader the last 365 weekdays, and Quant every day since March 28, 2023.