This morning markets are rallying in Europe and in the US futures as hope springs eternal:
I shall leave this here for everyone to chew on:
This market had best rally today with a bear market rally or the risk of a major crash (10%+) becomes an immediate concern.
Watch for a pattern of distribution however as the market heads into the close today as a 3% rally (not a crazy prospect) might well get a sell-off into the strength into the last hour of trading.
The theater in Kiev with Zelensky allegedly pulling back from his demands is nothing more than a last ditch effort to save his skin. It’s akin to the Polish President in late September of 1939 seeking a ceasefire with Hitler and Stalin.
And just like 1939, it’s not happening.
Thursday and Friday will be the most fascinating days for these markets so buckle up and hope that they succeed in stemming the bloodbath as the bull might officially be not just insulted, but dead.