This morning's open is the most important candle of the week.
The indices are testing yesterday's open after the ceasefire extension.
That might sound like relief…but it’s actually a test.
How price closes today tells you whether this rally has real conviction or whether it is one more headline-driven bounce running out of room.
Crude oil is sitting just below a critical level.
WTI is trading around $90, Brent just under $95, and the Strait of Hormuz blockade is still in place despite the ceasefire.
If crude closes above $95, the next move higher could be fast and sharp.
If it turns down from here, the recent low near $79 becomes the target.
That is an $11 drop from where we sit right now. Binary setup, developing in real time.
The administration's proposed $1.5 trillion defense budget is the story most investors are sleeping on.
Space defense, shipbuilding, missile systems. The money is being allocated and there are direct beneficiaries hiding in small caps that nobody is talking about yet.
Bitcoin and Ethereum are building major bullish structure at the same time.
Weekly candles are closing in days, and right now there are stocks set to either break out sharply or reject hard at resistance. The window to be positioned correctly is narrow.
Join Mac live in the Market Masters room at 8:45 AM ET.
Everything is on the table.
— TheoTrade