Just caught up on something pretty significant that got lost in the noise. The SEC actually went ahead and killed the Pattern Day Trader rule, which means that $25,000 minimum barrier for day trading is finally gone.

Think about what this actually changes. For years, retail traders have been locked out of frequent trading unless they had serious capital sitting around. That $25K floor was basically gatekeeping the whole space. Now that's officially off the table.

The real question is what happens next. On paper, this should democratize access significantly. Smaller accounts can now trade intraday without hitting regulatory walls. But whether brokers actually pass this through or add their own minimums remains to be seen.

This SEC rule change is the kind of thing that doesn't make headlines but could reshape who gets to participate in markets. Worth watching how the industry responds to this one.