Friday dawns surprisingly quiet, though the premarket hints at latent strength.
Friday dawns surprisingly quiet, though the premarket hints at latent strength. Bitcoin and HOOD, which for some time now have been risk-on indicators, are each up 2%, even though futures themselves are mixed. Curiously, WTI crude has eased over the week from $105+ to $96.5, behind the perception of easing geopolitical risk. Observers note hopes for restoration of the Saudi east-west pipeline. On this point we smell a trap. The next Iranian or Houthi attack on the pipeline could very well send oil prices right back up over $100/barrel. It’s just not clear what everyone is feeling so sanguine about where oil is concerned. It could be that the recent oil pullback, combined with some recent rate clarity from the Fed, has given the signal to tech investors that it’s OK to get back in the water.
Keep your eyes on our trading board, which updates throughout the day as setups develop. A couple of one-off situations have already emerged.
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