According to USA today Israel's first strikes of their air campaign, targeting Iran's nuclear program, kicked off on June 12th Israel-Iran timeline usatoday.com
Crude oil actually broke out on June 1st, so government insiders knew what was coming...
Of course when breaking news breaks, algorithmic trading programs kick in, so we still saw another big move to the upside on the breaking news.
We see this more and more, as the same news is priced in, several times over...
Another good example is Coinbase. It was recently announced that it is going to be added to the $SPX, and many market insiders piled in, ahead of the news. Then when the algos were triggered the stock jumped another 20%. Friday we saw it up another 16%
$USO US Oil breaks out above the 50 day moving average on June 1st, after 2 weeks of consolidation
WTI Crude is up 23% for the month of June
#NatGas is also rallying, and this is also helping the energy trade, the trade I called out for several weeks prior....
It was super easy to predict that the bull-tards would first drive tech stocks higher, and then rotate into energy, because this has been their MO for at least 2 years.
Comparing the $NYFANG (tech) to the $DJOEP (Dow Jones Oil Production & Exploration)
Energy leads then Tech leads, and vice versa. Also see Tech stocks trading at new all time highs, as CNBC suggests that this may be a "buying opportunity"?
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| Tech stocks make new all time highs ahead of June Options Expiration |
Today is June Options Expiration (triple witching), and it looks like the bulls are intent on getting paid on their bullish Options, which they put on back in April (no doubt at $VIX +35 levels). What a racket!
Take Care, AA
P.S. It's becoming painfully clear that the Fed has no intention of making the stock market, or the housing sector great again, anytime soon.
Fed's Jerome Powell says tariffs will drive inflation higher
Top economist warns America is heading toward economic disaster the Fed can't fix
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