S&P 500 Stages Fastest Flip In Market History With 22% Bounce - Vanguard S&P 500 ETF (ARCA:VOO), iShares Core S&P 500 ETF (ARCA:IVV), SPDR S&P 500 (ARCA:SPY)

From despair to euphoria in record time, the S&P 500 has pulled off a historic U-turn, rallying 22% from its April 7 lows to turn green on the year.

Chart created using Benzinga Pro

Charlie Bilello, founder of Compound Capital Advisors, called it “one of the biggest short-term comebacks in market history.” And it's not just an index story – ETF investors in SPDR S&P 500 ETF Trust SPY, the iShares Core S&P 500 ETF IVV and the Vanguard S&P 500 ETF VOO are riding the same wave.

Trade Truce Sparks Turbocharged Turnaround

What triggered the rip?

A sudden thaw in U.S.-China trade tensions. Tariff threats that had markets rattled just weeks ago were slashed: the U.S. cut its rate on Chinese goods from 145% to 30%, and China blinked right back – lowering its retaliatory tariffs from 125% to 10%. Global markets exhaled, and stocks took flight.

SPY Has A Classic Bullish Setup

Technically, SPY is lighting up every bullish signal on the board. At $586.53, SPY trades well above its eight-day simple moving average (SMA) of $574.16, its 20-day SMA of $557.10, and its 50-day SMA of $553.63. Even the 200-day SMA at $574.12 trails the price – classic bullish setup.

Momentum-wise, the Moving Average Convergence Divergence (MACD) sits at a strong 9.81, while the Relative Strength Index (RSI) reads 65.95, just shy of overbought territory but still flashing strength.

For holders of SPY, IVV, and VOO, the message is clear: the market isn't just bouncing – it's sprinting. The comeback has put passive investors back in the green, with technicals suggesting the rally could have more room to run.

Just weeks ago, this market looked cornered. Now, it's rewriting the rebound playbook.

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