On July 11, 2025, Chris Vecchio and Ilya Spivak discussed a mixed day for stocks, largely stagnant since the July 3 highs. Bitcoin and silver hit new highs due to ongoing tariff concerns, especially a proposed 35% tariff against Canada. They highlighted next week’s U.S. inflation report as critical, with China’s economy showing signs of deflation and low demand. The duo debated market momentum indicators, particularly signals of potential divergence on monthly charts, and discussed trading strategies in various asset classes, including treasury yields and commodities like oil and natural gas.