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SYS Daily Report
Market Reversal Wipes Out Early Gains as Tariff Fears Mount
Preserving capital remains the primary focus as volatility persists. Healthcare-related names are appearing in scanner results, but there are no noteworthy technical setups worth highlighting today. While some may find opportunity in this environment, for most, a patient and disciplined approach is essential amid elevated uncertainty.
Tariff Turmoil Reignites Volatility Across U.S. Markets
Markets staged a dramatic reversal on Tuesday, erasing sharp intraday gains as investor optimism over potential trade negotiations quickly deteriorated. The S&P 500 declined 1.6%, closing near 4,983 and within striking distance of bear market territory. A close below 4,915.32 would officially mark a 20% decline from the February 19 high. The Nasdaq Composite, already in a bear market, shed 2.2%, and the Dow Jones Industrial Average fell 320 points or 0.8%, marking a new 52-week low.
S&P 500 – Daily Chart
Nasdaq – Daily Chart
Dow Jones Industrial Average – Daily Chart
Earlier in the day, the Nasdaq was up as much as 4.6%, and the S&P 500 climbed 4.05%, but both saw their biggest intraday reversals in decades. The Nasdaq’s collapse marked its steepest blown gain since 1982, and the S&P’s reversal was the worst since October 14, 2008. Trading sentiment shifted rapidly after the White House confirmed that China failed to meet a noon deadline to retract its retaliatory 34% tariff. Beginning at midnight, all goods imported from China face a 104% combined tariff. Additional reciprocal tariffs targeting other key U.S. trading partners are set to take effect simultaneously.
Despite the recent volatility, the major indices have returned to a potential area of support on the monthly charts, following their sharp waterfall decline.
S&P 500 – Monthly Chart
Nasdaq – Monthly Chart
Dow Jones Industrial Average – Monthly Chart
Tech, Growth Names Falter Amid Broader Declines
Despite early strength, major growth stocks such as Palantir Technologies (PLTR), Netflix (NFLX), and AppLovin (APP) failed to hold gains. These names remain below their 50-day moving averages and reversed sharply into the close, reflecting the broader weakness across the technology sector. Even defensive growth plays like Ollie’s Bargain Outlet (OLLI) and TJX Companies (TJX) struggled, failing to close above critical moving averages.
Apple (AAPL) tumbled to fresh 11-month lows, down 5%, as fears mounted over escalating tariffs on iPhone imports. Tesla (TSLA) also dropped 4.9%, near its 2025 lows, amid a growing public feud between CEO Elon Musk and Trump advisor Peter Navarro.
Bond Yields Surge, Oil Extends Slide
The 10-year U.S. Treasury yield continued its surprising rally, climbing an additional 13 basis points to reach 4.26%, surpassing its 200-day moving average. The spike follows Monday’s 17 basis point jump and reflects broader fears over inflation and reduced bond demand—particularly from China, a key holder of U.S. debt.
10-Year US Treasury Yield
Meanwhile, crude oil futures fell for a fourth consecutive session. WTI crude settled down 1.8% at $59.58 a barrel, while Brent crude dropped 2.2% to $62.82 a barrel, amid concerns of deteriorating global demand and increased supply. OPEC+ plans to add over 400,000 barrels per day to production next month, compounding April’s 138,000-barrel increase. Analysts expect OPEC and the IEA to revise demand forecasts downward in their upcoming reports.
Crude Oil – Weekly Chart
ETF and Sector Performance Reflect Market Stress
Among notable ETFs, the ARK Innovation ETF (ARKK) tumbled 4.2%, reflecting losses in top holdings Tesla and Palantir. The VanEck Semiconductor ETF (SMH) fell 2.7%, while the iShares Tech-Software ETF (IGV) dropped 1.35%. Broader sector-based ETFs also weakened, with the SPDR Energy ETF (XLE) down 2.3%, the Health Care Select Sector SPDR (XLV) off 1.1%, and the U.S. Global Jets ETF (JETS) falling 3.6%, weighed down by names like Delta Air Lines (DAL) ahead of its earnings report.
TSX Retreats to Eight-Month Low on Global Trade Tensions
Canada’s TSX Composite Index closed down 352.56 points, or 1.5%, to finish at 22,506.90, its lowest level since August 12. The index posted its fourth straight day of declines, led by sharp losses in the energy and consumer discretionary sectors. Energy names fell 4.8%, following oil’s continued slide, while consumer discretionary stocks declined 2.5%. The healthcare sector plunged 8.5%, weighed down by Tilray Brands, which sank nearly 21% after posting disappointing quarterly revenue. Portfolio managers warned that a U.S.-led recession would likely ripple through the global economy, further dampening commodity demand and pressuring Canadian equities.
TSX – Daily Chart
Extreme Volatility Calls for Caution
Despite brief rallies, the broader trend remains decisively negative as markets grapple with rising recession risks, tariff uncertainty, and collapsing leadership among key growth names. Though healthcare-related stocks are beginning to appear in scanner results, no technical setups are worth pursuing under current conditions. Capital preservation should remain the priority. While some may have the skill to navigate this environment, for most, patience and discipline are key until genuine signs of stabilization emerge. A high-volume follow-through day could signal the beginning of a new trend, but with few quality setups and ongoing macro uncertainty, staying selective is essential.
“If you don’t manage the risk, eventually they will carry you out.” – Larry Hite
To conclude our report, we thank you for your engagement and insights. Your feedback is valuable, and we encourage you to share your recommendations. Stay attentive to the Daily Setups, the Workspace, and the Watchlists for emerging opportunities. Additionally, be sure to explore the scanner result PDFs provided below. Until next time, happy trading!
US Scanner Results
(Stocks are sorted to highlight those with the strongest momentum at the time of the scan)
Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.
EXPORT – US Watchlist Scan – 2025-04-08
NUTX, HUM, KOLD, ALHC, ASTH, CVS, UNH, RYTM, TDUP, LOAR, LUCD, TBT, PDEX, HRTG, FEIM, AGX, NOC, RCAT, NGVC, ELV, CNC, ESQ, APEI, WGS, FXY, PLMR, HCA, WDOFF, HRB, CNP, COR, BOXX
Canadian Scanner Results
(Stocks are sorted to highlight those with the strongest momentum at the time of the scan)
Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.
EXPORT – Canadian Scanner Results – 2025-04-08
LRA.V, OGD.TO, RBX.V, BLM.V, CVS.NE, UNH.NE, BOIL.CA, KNT.TO, HAN.V, AII.TO, LMN.V, MR/UN.TO, LUG.TO, WDO.TO, HISU/U.TO
