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“The Titanic hit the iceberg not because they could not see it coming but because they could not change direction.” – Dean Devlin

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

It’s over.  No, not the tariff tantrum, but the 2024 tax season.  If you’ve somehow forgotten to get your taxes done (or file for an extension), you’ve got a few more hours left!

Bespoke’s Paul Hickey was invited on CNBC earlier this morning to discuss markets.  You can view the clip here or by clicking on the image below.

While the S&P 500 is down 12% from its highs after making a series of lower lows, the index’s cumulative advance/decline line – which is simply a running sum of the daily number of advancers minus decliners – has held up very well.  As shown below, even after the post-Liberation Day market crash, the cumulative A/D line remained above its December lows.