CL1! NQ1!

Trump TACO'd on Monday morning. Oil was dumped to the low 80s, while NQ gained almost 1,000 handles in minutes. However, the market is tired of Trump's lies, and the spike was entirely erased before the market opened on Friday. Note that Trump pulled a similar TACO move on Thursday right after the market closed by extending the strike deadline by 10 more days. This spike was much smaller than the Monday spike, when Trump extended the strike deadline by 5 days, and it was immediately sold off.

In past TACO moves, the market almost always gave Trump the benefit of the doubt when he extended the deadline. Sometimes, we even saw the market trade above the level it was at before the conflict began after he TACO'd. We all know the U.S. has lost this war unless it decides to launch a ground invasion. WTI was once again hovering around the key 100 level as of the market close on Friday. Dozens of countries have run out of oil reserves, and dozens more are weeks, if not days, away from running out. The situation will only get worse in April. See the chart below from JPM.