If the topic of tariffs really fades into the background in the media, it could become a serious trigger for a market reversal.
Both from a technical and fundamental point of view.
Technically (chart) — this is how reversals often form: first, there is liquidity accumulation at the lows in a narrowing range, or a sharp V-shaped bounce.
Fundamentally — maximum pain and FUD have done their job. Good rising markets often begin after such 'black swans', as we have seen in the last two days: liquidations, panic selling, a change in sentiment, active short accumulation.
Everything is unfolding as I anticipated back in March — April may become the turning point.
Of course, we should not forget about geopolitics, tensions between China and the USA, as well as potential macroeconomic problems. These factors have not gone away and can still weigh on risk assets.