WTI Rockets 10% on Hormuz Chaos – Stocks Lower, Tech Shows Relative Strength

Stocks closed mostly lower, weighed down by a sharp surge in oil prices that pressured the broader market. After yesterday’s healthy consolidation in oil’s price (which impatient traders deemed inadequate amid escalating geopolitical tensions) the pattern evolved into a beautiful, classic bullish ascending triangle. Price broke out, rocketing WTI crude up nearly 10% at session…