This morning is the most damaging to the bears since the war began. The reason isn’t particularly the percentage change – – as I’m typing this, the /ES is up all of 0.7% – – but instead has to do with prices puncturing above resistance levels.
Far worse, they are doing this based upon no meaningful news. It’s not like Iran has surrendered or anything. Prices have simply been powering higher ever since the Friday the 13th close. Here is the /ES:





