Oil Slammed, Stocks Soar: Geopolitics, CTAs & a Perfect Semis Measured Move

What a crazy day of trade. There were so many dynamics in play, from earnings to geopolitics, the macro-backdrop, short covering, and I suspect there was some serious CTA action, too. All in all though, it’s part of the oversold bounce off price and technical support levels from last week; perhaps more extreme than expected…