JR has been a skeptic for a while that the SP500 will continue performing like it has historically. c

Right now futures say tomorrow is going to be another fun day. SP500 -1.9%

Well, far from "blowing up" ... but maybe for them:
Quant hedge fund Renaissance suffers steep losses in tariff tumult

How the regular trading ended on Tuesday.

From +4% to -1.5% ( -5.5% off the high. Not too good either. )

At close: HYD -0.89%, JNK -0.41%, IEF -0.50%, TLT -1.89%, AGG -0.52%.

Not too bad.

Words of wisdom from Josh Brown while the bounce was happening.

Scoring at home: Two dead cat bounces or failed relief rallies on two consecutive days as the country "takes it's medicine."

ntip

i am tempted by some specific equities, as i do not subscribe to index investing.
but there is a better case elsewhere than the s&p500 :
https://klementoninvesting.substack.com/p/invert-always-invert-the-tariff-edition

Howard Mark's on Credit Market and tariffs:
https://youtu.be/KpnUyGM5M-I

If only the buffoon understood (tariff basics and) that China has (paraphrasing AEI's Derek Scissors from 04/07/25) perfected locating and using the entry routes that make US tariffs on China in large part meaningless to them.

Following is a very short current report from The Guardian:
US to go ahead with imposition of 104% tariff on China from Wednesday after Beijing did not lift retaliatory tariffs

The United States will impose a 104% tariff on China from 12:01am ET (12:01pm China Standard Time) on Wednesday, a White House official said after Beijing did not lift its retaliatory tariffs on US goods by a noon Tuesday deadline set by Donald Trump.

I haven't investigated JR's claim for buying on dips.
Perhaps you are referring to the following MW article published on March 7, 2025?
Warren Pies of 3Fourteen Research calculated that the “golden era of dip buying”
occurred from the end of the 2008 financial crisis to the late 2021 stock market peak.
Pies and his team developed a checklist with seven criteria to determine whether a dip is "buyable" or not.
"As of Thursday’s close, only three of the seven criteria had been met, Pies said.
Yields have fallen, offering some economic stability. The VIX has remained below 25.
And, most important, Pies and his team don’t expect a recession on the horizon."
“'Clients who followed our guidance to reduce risk earlier in the year should look to add back exposure
over the next couple of months … but not quite yet,' Pies said in a report shared by MarketWatch."
https://www.marketwatch.com/story/thinking-of-buying-the-stock-market-dip-heres-what-you-should-know-6e3e74c1

TSLA is (or at least was) DOWN something like 20% since Lutnick's (illegal?) Get Rich Quick proclamation!
https://apnews.com/article/musk-trump-tesla-stock-lutnick-commerce-secretary-ethics-5a89c2f4a68a9470692630b5c56cffd6#:~:text=A week after President Donald,“Buy Tesla.”

Brought bro you by the Borowitz Report
JD Vance Freaks Out After Tariffs Hike Price of Eyeliner

Hilarious!

The meeting (with Lutnick), however, did not achieve its desired result, as a tearful Vance emerged from it with black streaks staining his cheeks.

Wall St. Bursts With Anger Over Tariff 'Stupidity': NYT 4/8.

Brought to you by the Borowitz Report
JD Vance Freaks Out After Tariffs Hike Price of Eyeliner

https://www.sec.gov/Archives/edgar/data/1217286/000119312525057404/d890544d497.htm
...Effective April 1, 2025, the Fund will no longer be subject to a limited offering, and all limited offering disclosure relating to the Fund will be deleted....

John Rekenthaler writes that a new era would begin if Liberation Day tariffs are enacted.
Recent stock market history may not be helpful in navigating the situation.
Dare I say, this time will be different?
"President Trump’s Liberation Day tariffs are the most radical economic proposal of my lifetime. If enacted, they will reverse a 75-year trend of increasing free trade and mutual cooperation among the world’s developed nations. The global marketplace would begin a new era."
"For more than 40 years, US equity investors have benefited from buying on dips. The last time that tactic failed with any regularity was during the 1970s and early 1980s, when the previously unknown condition of stagflation confounded the marketplace."
"We now face another unknown condition: high global tariffs. How that circumstance will play out is anybody’s guess. But it would be rash to assume that recent stock market history will repeat."
https://www.morningstar.com/economy/this-time-it-really-is-tariffs