The rally in stocks is losing one of its biggest backstops: dip-buying retail traders

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• Bullish retail traders are showing signs of fatigued, JPMorgan said.
• Dip-buying retail investors piled into stocks during April's tariff-fueled chaos.
• JPMorgan said that waning retail participation could hurt the recovery rally since April lows.

The rally in stocks since tariffs shook the market could soon lose steam as a key group of buyers shows signs of slowing down, JPMorgan said this week.

Retail investors have been...