Oil Explodes, Gold Cracks, Shorts Pile In... What Could Possibly Go Wrong?
Markets at a crossroads
Oil is accelerating toward $120, gold is fighting to hold the critical $4,000 level, and the violent reversal in Treasury yields is opening the door to further systematic bond buying. Meanwhile, AI fears are intensifying, hedge funds are slashing net exposure, and short positioning is becoming increasingly aggressive. The big question: are markets approaching another leg lower, or is the increasingly defensive positioning setting the stage for a squeeze?