Nightly market recap:

- $SPY $SPX is gapping down in tonight's futures opening due to Trump tariffs and sanctions on Colombia's refusal to accept back some illegal aliens. Anyway, this is also part of the broader deleveraging we've warned you about, looks like $6100 target attained for now.

- $TLT $TNX bonds should see a good reaction to the upside tomorrow on these news, especially after the ATR exercise we gave you in Friday's newsletter pointed to potential volatility breakouts for the main asset classes here. Want to see $88 regained, convergence to dollar and supportive data coming out this week.

- $IWM small caps following along the $ES price action tonight on the downside, however it has not yet broken the $2300 upper range for $2200-$2300, which means either markets are hopeful of a bailout measure, or there aren't many continuation sellers yet.

- $USO $CL crude oil should start to see some sharp action this week, especially if EIA gives us another contracting week, as well as the implications coming out of this Colombia oil tariff and sanctions situation. Trump asked the Saudis for lower oil prices too so we shall see what happens.

- $GLD $GDX gold dipped to the $2770 cutoff we've given you all month, found aggressive buyers at the bottom tick here, so we think that markets are stuck to the inflation theme thinking that tariffs will be the culprit. As you know this won't be so. Careful about a fade lower.

- $DXY dollar oddly rallying on this tariffs and Colombia news, if we start seeing less trade activity and hostility with out trading partners, shouldn't this be bearish for the currency? More than that, Trump does want a lower dollar to boost domestic production so...

More details coming in shortly ☕️
#SPY #SPX