To The Moon

Oil prices have fallen below the $70 level for the first time since the end of last year. Although they have not yet broken through the low support of nearly two years, their vigilant effect cannot be ignored. Coupled with the fact that the yen has not shown signs of returning to weakness, we may still have to make some preparations for tail risks.As we all know, crude oil, as the king of commodities, has long been highly correlated with the economy. Although under the control of the Biden administration, oil prices have become a range-bound variety in the past two years, but the market cannot run within a range forever. With the new president on the horizon, this kind of breakthrough will come sooner or later. However, if it breaks down before the general election, it may have different r

On Sep 10, the broader U.S. stock market was higher overall, but the energy and financial sectors pulled back. The slide in the energy sector $Energy Select Sector SPDR Fund(XLE)$ was largely due to the recent sharp pullback in oil prices, while the pullback in the financial sector $Financial Select Sector SPDR Fund(XLF)$ , especially for the large banks $JPMorgan Chase(JPM)$ $Goldman Sachs(GS)$ , came as a bit of a surprise.Goldman Sachs' HeadwindGoldman Sachs closed down 4.39%, mainly due to its CEO David Solomon's remarks at the Barclays conference.He noted that the firm's trading unit is expected to decline 10% year-over-