Crude fell off a cliff over the weekend because a bomb wasn’t dropped. I kid ye not. Stock index futures are gapping up small to none depending on the index, SPX is heading straight into the longer term range highs, and RUT is shrugging the whole thing off. Plus a Wall of Wins full to the brim to close out July.
...Crude gave back 5.46% because a strike was called off, not because a barrel moved. Iran’s ministry says the talks now underway do not cover whether Hormuz opens at all.
...Crude gave back 5.46% because an attack was called off, not because a barrel moved. Iran’s own ministry says the talks in progress do not cover whether Hormuz opens.
...Just when you think the bulls are locked up and the bears are loose, everything flips over and SPX lands right back inside the same tight range it was in before FOMC. A lite one today. The TnT setup can wait, the month paid anyway, and my bags are already in the car.
...Amazon beat every operating line, converted none of it into cash, and still cleared consensus by three times. The difference was a $53.4bn mark on a company it cannot sell.
...The dashboard graded FOMC as a bonus rather than a hazard, so the position went on at double size. $145 locked in, $645 live at the short strike through the statement, and the press conference took it away while I was doing something else entirely.
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