On July 14, 2025, Chris Vecchio and Ilya Spivak discussed recent market movements, highlighting a modest rebound in stocks following negative tariff news. They analyzed the latest CFTC Commitments of Traders (COT) data, noting increased short positioning on the S&P 500 while the Nasdaq saw a net long shift. They remain skeptical of the dollar's long-term health, even though aggressive short positioning in the U.S. Dollar could lead to a covering rally. The focus turned to upcoming CPI data and bank earnings, which could impact market volatility.