Escalation.

The S&P 500 was sitting on edge... now as surge in oil prices will certainty impact U.S. consumers. The question is... for how long.

Good Morning:

I’ll be live… in five minutes. I’ll discuss what’s happening in Iran and how this raises the stakes for the global economy. In addition, I’ll highlight one of the other real challenges emerging across the financial system—and how to position yourself.

Last night’s attack on Iran by Israel has always felt inevitable. Now, with this here, the world will certainly shift. Sides will be taken, lines will be drawn.

My job and my focus are to monitor money flows through all of this. So far, we’re seeing a massive spike in oil prices. But remember that a significant momentum rush into the energy sector started just a few weeks ago. I have to question how much short-covering accompanied massive speculative bids.

Everyone wants me to answer the question: How high could oil prices go?

Naturally, this depends on several things. First, would Iran attempt to shut down the Strait of Hormuz? If so, the stakes would be incredibly high.

Second, how much of this positioning will involve technica…