Israel’s Prime Minister Benjamin Netanyahu has confirmed Israel struck nuclear targets in Iran and said the operation will continue for many days.
The immediate market reaction is as follows: S&P futures are down 1.7%, Gold is up 1.3%, and Crude Oil is up 7.6%. This could be serious.
We have been saying for a while that the market is overpriced and overvalued, driven to the upside primarily by algorithms. Insiders are selling, and volatility indicators have been saying the market will be very volatile. This event could be the trigger for the new down leg for the stock market. Tensions were building for a long time, and we doubt it will be resolved tomorrow. Israel intends to keep up its attacks against Iran until it feels the Iranian nuclear threat has been removed, Israeli sources said.
Dennis Leontyev
