SPY opened at $493.43 on April 9, 2025, -0.6% from the prior session. The low of the day came on the 11:00 AM bar at $493.06.
The afternoon went the other way. The high came on the 3:50 PM bar at $546.33, and the last 5-minute bar closed at $543.46. That's +9.4% from the prior close, with a range of 10.7% in one session.
At 1:18 p.m. Eastern, Trump posted that he had authorized a 90-day pause on his higher tariffs (his post, in the American Presidency Project's archive).
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:
- At the low, were you short, flat, or trying to buy the bottom?
- When the first big green bars came in, how long did it take you to believe the move? Was it a bounce like the others that morning, or something else?
- If you were short, where was your stop, and did you take it when price got there?
- Once it was running, did you buy a pullback, chase, or sit out? Pullbacks on a day like this are small and quick.
- If you were long, where did you plan to get out, and did you?
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.