Oct. 13, 2025 7:10 AM ETSPDR® Dow Jones Industrial Average ETF Trust (DIA), DJI, IVV, IWM, NDX, QQQ, RTY, SP500, SPX, SPY, VOODIA, DJI, IVV, IWM, NDX, QQQ, RTY, SP500, SPX, SPY, VOO, ACTV, AFMC, AFSM, ARKK, AVUV, BAPR, IVOO, IVOV, IVW, IWC, IWN, IWO, IWP, IWR, IWS, IYY, SPLV, SPMD, SPMO, SPMV, SPSM, SPUS, SPUU, SPVM, SPVU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXU, SPXV, SPYD, SPYG, SPYV, SPYX, SQEW, SQLV, SSO, SSPY, SVAL, SYLD, TMDV, TPHD, TPLC, TPSC, UAUG, UJAN, UMAR, UMAY, UOCT, UPRO, USMC, USMF, USVM, MAGS, REMX, SETM, FXI, PGJ, EWH, EWT, GXC, FCA, KBA, CHIQ, CQQQ, ECNS, MCHI, CXSE, KWEB, ASHR, ASHS, CNXT, CNYA, KGRN, FLCH, FLTW, KURE, KSTR, RAYC, KTEC, TDF, YINN, YANG, FXP, XPP, YXI, CBON, WTAI, THNQ, LRNZ, AIQ, UBOT, ARTY, ROBT, ROBO, BOTZ, ARKQ, ANEW, KOMP, DTEC, IGPT, AIBU, SMH, XSD, SOXX, FTXL, PSI, SOXQ2 CommentsJoseph Calhoun2.78K FollowersSince the beginning of September, there have been 28 trading days, and 17 of them were up (61%) with one run of 7 out of 10 days higher.The US and Europe have both been frantically investing in rare earth mining and refining operations, but gaining independence from Chinese supply won’t happen overnight.The S&P 500 advance was already narrowing ahead of this latest trade tiff, with the number of S&P 500 stocks above their 50-day moving average peaking in early July at 84%.DNY59/iStock via Getty ImagesYou knew something had to shatter the calm. The market had become too complacent, making money was too easy lately. It has been 27 trading weeks since the last big tariff announcement - Trump’s “liberation day” when he announced reciprocal tariffs onThis article was written byJoseph Calhoun2.78K FollowersJoe has worked in the financial services industry since 1992 in various capacities, including Operations Manager, Compliance Manager, Registered Representative and Portfolio Manager. From 1997 to 2006, when he founded Alhambra Investment Management, Mr. Calhoun was a Director of Investments at Oppenheimer & Co. Mr. Calhoun holds the Series 63 (Uniform Securities Agent State Law) and 65 (Uniform Investment Advisor Law) securities licenses. He has previously taken and passed the Series 7 (General Securities Representative) and Series 9/10 (General Securities Sales Supervisor) securities exams. Joe proudly served in the U.S. Navy’s nuclear submarine service for 8 years (1983-1990) and was awarded several commendations including the Navy Achievement Medal in 1987. He studied engineering at the University of South Carolina and is a graduate of the U.S. Navy’s Nuclear Propulsion School. He founded Alhambra Investment Management as a registered investment advisory to address the needs of the individual investor. His market commentaries are widely read and published at various online outlets. He has appeared on Larry Kudlow’s program on CNBC and various radio programs. He is also an editor of the website RealClearMarkets.com.Comments(2)Recommended For You