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today was a test of the market's ability to price bad news.
8 AM: Core PCE +3.0%. Hot.
Noon: Supreme Court struck down Trump's tariffs.
2 PM: Trump announces 10% global tariff anyway.
SPX closed: +1.2%. Near all-time highs.
the market didn't care.
not because nothing happened.
because everything was already priced.
this is the pattern that keeps killing the bears.
"bad news" → market has held it for weeks → catalyst hits → relief rally.
what changes this? something the market HASN'T priced.
everything today was telegraphed.
still watching ETH $2,000.
that one's not priced yet.