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Market moving headlines were again predictable over the extended US holiday weekend meaning we can again see the manipulation from a mile away.
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Watson was triggered into selling global energy markets and buying equities before the realization nothing had changed set in through early Tuesday morning.
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Grains were under pressure, but rallying off initial overnight lows pre-dawn.
Morning Summary: As the US comes out of its latest 3-day holiday weekend, any one of us with two brain cells rubbing together could’ve written Tuesday morning’s headlines. Particularly after we were told a “deal” to reopen the Strait of Hormuz – a key passage for global crude oil only closed because of the US president’s War on Iran – was “largely negotiated” and would be announced “soon”. We all knew it was a lie, and sure enough, Tuesday’s headlines read: U.S. conducts ‘self-defense strikes’ in Iran as the (US president) pushes for peace ‘deal’; Brent crude rises 3% as Iran vows retaliation against ceasefire (this word still makes me laugh) violations after U.S. strikes; Russia warns U.S. citizens should leave Kyiv ahead of strikes (this sounds familiar, right?); European stocks edge lower amid U.S.-Iran peace talks uncertainty; and finally, Dow futures jump over 300 points as oil tumbles on hope (a four-letter word in markets) U.S.-Iran deal is close. Look, it is simple, this is all by design, with the key being the last one: US stock indexes are supposed to go up because, as we are told, that IS the US economy. End of story. Once again, it is predictable chaos.
