Stocks popped wildly higher in the overnight futures, with the beat in the Micron earnings sparked hopes in an extension of the Tech Bubble part deux, aka AI Über alles.
This on top of 'reasonably good news' on the economy this morning.
Not constructive for the bullish agenda.
Bitcoin has dropped to the bottom of its intermediate trading range.
Gold and silver bounced back a bit on this option expiration day on the Comex.
These expirations often mark bottoms. We may get another 'gut punch' to test the resolve of those few brave souls who took fresh futures contracts from in the money calls.
VIX went higher.
A ship was stopped by force in the Strait of Hormuz today as it tried to move past the Iranian position through the US recommended southern portion of the channel.
Risks are wildly mispriced. The tech bubble seems to be topping, judging by all those 'well reasoned' pieces coming out now saying that it isn't.
The numbers don't lie. But they can be useful accoutrements to embellish the lures of the Wall Street bubblemeisters.
Have a pleasant evening.
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