This is a classic short squeeze pattern and I'm surprised no one is talking about it.
It seems that very, very few people are seeing this for what it is: A *market-scale* short squeeze.
1. The market was well on its way to entering bear country, and a lot of short positions are sure to follow, particularly with firms that stand to lose the most with tariffs, such as AAPL.
2. Trump posts that "now is a great time to buy," prompting retail investors to flood the markets with purchase orders in advance of an expected announcement, driving up prices and making those with short positions nervous.
3. The announcement actually happens, prompting even more retail investors to buy any large cap stock that sounds reliable (despite having done no prior analysis or thinking). This drives up prices even higher.
4. Short sellers begin exiting their positions and buying more, driving up prices on everything, including those that would be expected to continue losing amid the China tariffs, such as AAPL.
5. Boom, near-record "gains" market-wide, even on stocks that should still be losing, confusing everyone.
6. The next day, those who took long positions exit to capitalize on their gains, resulting in a return to fair market value.
This was a disaster for a lot of people. Short sellers lost their collective asses yesterday. It was still a massive loss for investors overall.
My opinion (not financial advice): I'd be selling any position I didn't enter for the long term and exiting this market until calmer seas prevail. This president has no idea what effects his words have on markets, and is causing havoc that he's not even aware of. He *thinks* yesterday was a huge win, but in actuality it was a bloodbath for a lot of people.
This was one of the biggest, if not THE biggest short squeeze in history.