I’ve been saying for a few weeks that this market was a coiled spring and crossing above the 200-day moving average would trigger panic buying.

I also saw a potential moving average cross development, but it's moot, as the S&P 500 is also challenging its 50-day moving average.

The rate of change (ROC) is also reminiscent of the rally that began from the depths of last year's tariff tantrum.

Fear & Fortune

Speaking of the tariff tantrum, we are also reminded that deep fear has consistently led to major money-making setups, since the advent of financial engineering during and after the Great Financial Crisis.

If history repeats itself, the next four years will be higher and based on just how much fear there was in the market last April.

These days, fear is amplified by unforgiving media with deep disdain for the occupant of the White House. To be honest, lots of talking heads don’t know what they are talking about, so they refer to the first rule of media – Fear Sells.

The two big points are the need for power. The world needs fossil fuels, and meanwhile, the threat of annihilating Iran's power structure got the regime to the table (along with massive destruction of their military apparatus).

The other big picture point is artificial intelligence. Its role in this conflict has been a remarkable wake-up call for any non-believer.

We know about the role of Claude in the initial strikes. If you haven’t read about Ghost Murmur, make sure you do before the day is over.

Meanwhile, a major concern throughout this conflict has been the impact of higher crude oil and end products on consumers.

Well, we got strong earnings from Delta (DAL) this morning, and Consumer Discretionary (XLY) names make up half of the top advancers.

All factors are green with momentum leading in each size, led by mid caps, which is overweight in Industrials (XLI), followed by Technology (XLK) and Financials (XLF).

It also has hot optics names Lumentum (LITE) and Ciena (CIEN).

The war isn’t officially over, and Wall Street doesn’t use ticker tape anymore. Today’s session has the same feel of a ticker tape parade for the end of wars, including the 1918 armistice.