The Oil Markets Knew

DANO WEIR: It's Friday, March 6th, and you're about to go On The Markets with Fermata Advisors and our private wealth brand, Sonoma Wealth Advisors. My name is Dan O'Weir, and the headline this week, the main story in the market, is the main story in the world, which is military activity in the Middle East, and the idea that perhaps the oil market, it's new.

DANO WEIR: What impact did that have on portfolios? How did different asset classes react to Middle East action this week? It's time to find out right now On The Markets.

CHRIS SIPES CFP®: The stock market, the economy, your money. What's the latest and what could be next?

CHRIS SIPES CFP®: Find out now with Fermata On The Markets. Straightforward financial market updates. For the brands of Fermata Advisors, Sonoma Wealth Advisors, Fermata 401k and Fermata Tax. On The Markets starts now.

DANO WEIR: Managing Principal of the Firm, co-host of the show with me, Daren Blonsi, and Chris Sipes on assignment this week. He will return next week. Daren is one of those weeks on the show where, you know, we're not a political show.

DANO WEIR: We don't take sides and we don't really come in with that perspective, but sometimes there are some stories which are just so big that that's the narrative and it really does impact the market. And that's just the case this week.

DAREN BLONSKI CFP®: Yeah, that's for real. Obviously you can't ignore bombs getting dropped in Iran and then Iran fighting back or at least trying and all that that has caused in the chaos that's caused in the oil Markets, which, Hey Dan, I think in the show last week we said, looks like it's going to go. And sure enough, Saturday morning, here we roll.

DANO WEIR: Yep. Yep. Right after the market closes. So just want to say upfront this week, you know, when stuff like this happens, there truly are, there's some innocent people dying. There are Americans dying. And we have no idea where this is going to go. Our perspective on this is we have to talk about things which are impacting the market.

DANO WEIR: That's our focus. So we are going to maintain focus On The Markets. And Daren, the focus of the title of this show, The oil market's new, so can you show me? How you're seeing in the analytics and the technicals of the market that the oil market perhaps predicted that this was going to happen.

DAREN BLONSKI CFP®: So we talked last week about this building momentum. You can see this red line, how it went up right before we saw things really start shooting up in Russia. If you go back to 2022 and heating up, obviously Russia is a big oil producer. And so when a war breaks out between Russia and Ukraine, that's going to... Drive the price of oil.

DAREN BLONSKI CFP®: Because oil is the foundation of so many things economically, it's pretty difficult to sustain a long-term high cost of oil without creating a lot of other economic issues, including the cost of us driving our cars around. Some are saying that the gas is going to go to $8 in California. Lucky us.

DAREN BLONSKI CFP®: Gas politics are really interesting, actually. If you ever want to go down a rabbit hole of nonsense, dig into our gas politics and where we get our gas from, why we get our gas, where we get our gas from. And it's pretty insane.

DAREN BLONSKI CFP®: And what's really interesting about it is it's highly inefficient and environmentally creates so many more toxins in the environment just because some of the laws that force us to ship our oil further than we would have. Have to, to get it into the state because of some of the laws. But anyway, who's going there? Cause we're not a political show, but, it's pretty interesting.

DANO WEIR: So when you're, when you're the managing principal of the Firm, you get to, you get to stray across the lines a little bit, just a tiptoe or two though.

DAREN BLONSKI CFP®: Cause in reality, we try to be unbiased. We think we Markets don't care about our politics. They don't care about your politics and Markets do Markets do.

DAREN BLONSKI CFP®: When we looked at the chart last week, you could see this 20-period moving average, and you could see this growing. This is a bull flag. I think we pointed this out a few weeks ago that there's this bull flag right here that suggested it was going higher. I pointed out last week that this was another bull flag. And then, sure enough, Saturday morning, we broke out and things started ripping.

DAREN BLONSKI CFP®: We've seen, in recent weeks, kind of things calm down by the weekend end. It was really clear once this thing started going that it wasn't going to calm down that fast. I'm hearing September is going to calm down. For those who were under a rock and not paying attention this week, last Saturday we dropped a bomb.

DAREN BLONSKI CFP®: We dropped, actually, I think it was 30 bombs on pretty much all the leadership of Iran and killed them all. And there's just a few left. And I believe they're hunting them as fast as they can reappoint them in Iran, which, hey, not going to get in the politics of that. The right, the wrong of it. That's the reality. Way above my pay grade.

DAREN BLONSKI CFP®: What that creates in the Markets, though, is it just creates this uncertainty, right? Like what's going to happen next? Because so much of the oil comes out of... Iran in the, the straight that Iran has, it's really all about that. So if we look at a map of the world and we, we look at the kind of the choke point in this, this has been the issue for so long.

DANO WEIR: Do you have that on another, on another screen?

DAREN BLONSKI CFP®: I will. And just a I'm just pulling it up here.

DAREN BLONSKI CFP®: The Strait Of Hormoz is...

DAREN BLONSKI CFP®: It's a choke point for oil. I am not an oil expert. I study enough of this stuff to try to understand it from a market standpoint because I kind of don't like when everyone's an expert on everything. And that's not the goal here, but I do follow a lot of geopolitics. I listen to a lot of stuff on what's going on.

DAREN BLONSKI CFP®: But basically, so this is the country of Iran. This is the Strait Of Hormuz. Something like 50% of the world oil goes through here, right? Because Bahrain, Qatar, Saudi Arabia, Kuwait, Iran, they're all shipping oil through here. And so after we bombed Iran last week, the IRGC said, oh, we're going to try and shut this thing off.

DAREN BLONSKI CFP®: It's not particularly ideal for China because China in particular gets a lot of oil through there. From what I can tell reading through the headlines is it's for the most part staying open. There have been some oil boats have gotten smoked in the last...

DAREN BLONSKI CFP®: Couple days but it looks to me like things are generally moving there even though there's a war going on we also went out and literally decimated the entire Iranian navy and there's a picture online i don't know if you saw that which is sad too all the same time but we we sunk a boat with a torpedo from a submarine for the first time since world war ii i did see that And that was, I mean, it was just mind-boggling to watch that thing get hit.

DAREN BLONSKI CFP®: So it's been a pretty intense week, but all that to say is, you know, lots of theories about that. But given that in recent weeks we were down here in Venezuela doing regime change, taking over the oil coming out of Venezuela, part of the argument is what the U. S. Is trying to do geopolitically is isolate China.

DAREN BLONSKI CFP®: And by taking Venezuelan oil, which was getting shipped to China, and now by knocking out, and I think the hope is that they can control Iran oil, that leaves really Russia. And we're in the mix of telling China what oil they can and can't have. How long China puts up with that and to what degree they push back, I guess we'll see.

DAREN BLONSKI CFP®: I did notice Secretary Besson before we came on today said, oh, we're going to take off all the sanctions on Russian oil, which is... Shocking to hear him say that. Well, why? Because go back to the charts, right? And we go back to the charts and you can tell geopolitically, it's not very popular if you have more than $92 or $92 per barrel cost of oil going on.

DAREN BLONSKI CFP®: This was the Russian crisis. And now we came up into resistance, which I will say that it looks like we're on an uptrend, but this could calm down really quick, the way it moves. You've heard me say this many times on this show, if it moves fast in one direction, it moves fast in the other direction.

DAREN BLONSKI CFP®: So I would actually argue for at the moment, at least, how fast oil has gone up, that there could be a pretty quick move back down, meaning things could settle down quicker than people expect. Right now, what I'm hearing is September before we're done doing what we're doing there.

DAREN BLONSKI CFP®: But really, all we have to do is take control of the straight hormones, which will be easy, and then let the oil flow again, and that brings the price back down. I'm sure both the Democrats and the Republicans don't want to go into their re-election campaigns with oil above $100 a barrel.

DAREN BLONSKI CFP®: That would be problematic.

DANO WEIR: You call that like rubber band momentum, right? Where you pull it up that high, it's bound to snap back.

DAREN BLONSKI CFP®: Yeah, it just doesn't tend to pull.

DANO WEIR: At least somewhat. Yeah.

DAREN BLONSKI CFP®: And you can see that. Like, you know, initially we had this big reaction when Russia invaded Ukraine and then it came back down in, right? So what I would expect...

DAREN BLONSKI CFP®: Right now and we'll see if this builds if it's going to be a lot more a longer prolonged kind of thing i think we'll see some kind of news in the next week with it then you know oil comes back down and it will find resist or support right there about 78 a barrel and that's where you would see it kind of hang out somewhere in that zone i think 78 is kind of Where it'll find base support.

DAREN BLONSKI CFP®: If it does find base support there, then I think, yeah, long term, we're going to be looking at more expensive oil per barrel.

DANO WEIR: So then you would think the common sense would tell you, Daren, that, okay, so there's a war now that's just started. We've got a shock in the oil market. People are going to flee to safety. Where have they been fleeing already? Gold, silver. So... The smart money, the smart thinking would say, wow, you know, it's going to be a great week in gold and silver. Was it?

DAREN BLONSKI CFP®: Well, no, I think a lot of the, there's a term called priced in. I think the market really clearly saw that this was happening and it was already kind of priced in. We saw this big move in gold. I think we mentioned on the show that like, wow, this is crazy.

DAREN BLONSKI CFP®: What's going on? But maybe the market foresaw this coming, right? Because if you think of like the market is just this collective brain trust and. Companies were buying gold because they felt, and countries and people because they felt like there was less security in the world coming.

DAREN BLONSKI CFP®: And we've been talking too about the fourth turning, the idea, the concept of the fourth turning, the idea that when you have a multipolar world and not a unipolar world where US is in charge of everything, but now we have a multipolar world where there's this foe of China that is trying to express power throughout the world and we're now fighting back against that expression of power.

DAREN BLONSKI CFP®: That that creates more uncertainty, that creates conflicts.

DAREN BLONSKI CFP®: So in a way, I think Iran is more about a proxy war with China. I think Venezuela is more about a proxy war with China. I think what's going on in Russia, and I think Russia's the next to fall if everything calms down. I also think Cuba's on its way out as well, and I think Trump mentioned that today, that he's basically, yeah, we're going to deal with Iran, and then we're going to deal with Cuba.

DAREN BLONSKI CFP®: But it makes sense when you think of geopolitically, if you're trying to isolate China, you control the oil, then they have a lot less pull around the world.

DAREN BLONSKI CFP®: And I think one of the things that every country is kind of waking up to this week is that Russia and China, while they said, oh, we're going to back you, we're going to help you, we're going to support you, we're going to fund your military because they funded a ton of the Iranian military in exchange for their cheap oil.

DAREN BLONSKI CFP®: They're sanctioned in cheap oil, but they didn't show up this week. And I think any country in the world has to step back and go, wait, wait, who am I partnering with here? So I actually think the U. S.

DAREN BLONSKI CFP®: Got quite a bit more powerful this week now that Iran is at very least highly destabilized and likely thrown back tens of 20 of years as far as rebuilding their military, their government infrastructure. Or you just can't.

DANO WEIR: Eviscerate all these top leaders and not lose some institutional knowledge that sets back the institution and for those who are in case you're not following proxy war meaning you know Ukraine was a proxy war in a way between the united states and Russia in that you know Russia Russia Russia and American war head-on on each other's soil too significant too much at risk too many big guns to play.

DANO WEIR: So Russia... You know, goes after someone who they can more easily attack. And we don't necessarily go over there and fight, but we certainly sent enough money to the Ukraine. So therefore, by proxy, we're ostensibly having a war between the two. And then that would be the case potentially right now between Russia, China, the U. S. In Iran.

DAREN BLONSKI CFP®: Yeah. And, you know, you'll hear this term, I just saw it hit the headlines a few minutes ago, but you'll hear this term boots on the ground, right and it's just politically intolerable, you know, for leaders to put people, humans in that vote for them in dangerous way. Right. And so there's a lot less tolerance when people start dying. That becomes a bigger issue.

DAREN BLONSKI CFP®: That's much why you've seen, president Putin in Russia or dictator Putin, however you want to put it. He has spent a lot of energy. Bringing in like North Koreans to fight the Russian-Ukrainian War, but he's not pulling young 20-somethings out of St. Petersburg to go get shot at. He's pulling people out of very far off places because that's more tolerable from a political support standpoint, right?

DAREN BLONSKI CFP®: So Trump has to walk this fine line of like, hey, yeah, it's one thing just to drop a bunch of bombs and people are disconnected from the war. But if all of a sudden a bunch of American young adults start returning in coffins, That changes the calculus very quickly and whether or not Americans really want to fight this war because it's not really that popular when you look at the polls.

DANO WEIR: What about silver? Go ahead.

DAREN BLONSKI CFP®: What about silver? Well, so let's go silver stack. So gold, you know, very likely priced it in. But when you look at the daily charts, like, yeah, the week started off and it went up, but then it sold off, right? So that's interesting in itself. I would also say that gold is on a downward trend, right? They don't tell you that in the news. You could also argue it's also on a long-term bull flag too.

DAREN BLONSKI CFP®: So you could say it's going to break out. So, but right now we're making lower lows. And so you have to accept a medium to short term downtrend in gold. What I would be watching is really kind of this 5,400 an ounce level, you know, and whether or not that holds tight. If it breaks out above that, then I think we'd probably go higher.

DAREN BLONSKI CFP®: But the fact that this 20 period moving average, it's hanging on right here to this red line. And now it's right up here. And you can see what that looks like in the S&P 500, where we lost that 20-period moving average right here. And you can see we're trading below it. So the trend is down in the S&P 500, which is the largest US-based stocks. You can see lower lows happening, or lower highs, excuse me.

DAREN BLONSKI CFP®: But we're coming in contact with this 200-day moving average. So for those feeling a little nervous about their portfolios in the market, I would... Sit back, enjoy your weekend. It's beautiful out. And not trip about it because right now we're just doing an incorrective phase. It would not even be shocking to see this just trade right down into this area and then find support.

DAREN BLONSKI CFP®: If we go below that 200 period moving average, last time we went below that was back in the tariff panic right here. We go below that. Yeah. Then then maybe we got something different. But right now, it's just short-term volatility. Stay the course. Don't be getting too jumpy in your portfolio.

DAREN BLONSKI CFP®: Listen to the news if you want to listen to the news, but just realize it's designed to scare your eyeballs off until you look at it more. And that's all it is. But you should not be connecting the news with your portfolio. That is a recipe for disaster when it comes to investing.

DANO WEIR: I wonder why there's so many prescription drug ads in between the network news segments.

DAREN BLONSKI CFP®: Yeah, exactly. Weren't we going to like cancel those or something when they're like a, like, I felt like RFK was going to say they're illegal now or something.

DANO WEIR: He'll, he'll get that done right after his next jeans workout.

DAREN BLONSKI CFP®: Yeah, there you go.

DANO WEIR: What about, you know, so we've got this military activity and we have a stock that has had a rough go so far this year and now seemingly a major bounce. It makes a lot of sense. Tell me about Palantir this week.

DAREN BLONSKI CFP®: Let me pause that. I'll go there in just a SEC. Let me just touch on the S&P to wrap that a little bit. So this is the S&P 500. We've talked last week a lot about how these value stocks really took off and have been doing really well. So there's also another narrative.

DAREN BLONSKI CFP®: They're not going to tell you in the news like, hey, value stocks have just done really good. They're taking a pause and a breather. And oh, look and behold, the Microsoft, all these Palantir type companies that were ripping the last three years are now going back up a little bit.

DAREN BLONSKI CFP®: But yeah, a lot of the value stocks have had an incredible year so far.

DAREN BLONSKI CFP®: They had a bad week. And you can see that in the RSP here, where the RSP went down. This was the leader for the year. And now we're basically back to where we were at the start of the year. I think we touched that point today, because you can see this was the start of the year right here. And we're back at 196.

DAREN BLONSKI CFP®: So, you know, the point is, is just that like... When things get spicy, you see these corrections. The market finds a reason to sell off a little bit, but it's not a good strategy to hit your panic buttons. You do have the beginning of perhaps a corrective phase in the Markets. Wouldn't be shocking. Was an okay beginning of the year.

DAREN BLONSKI CFP®: We get through February, March, April, May. We see some weakness. You know, seasonal weakness is not a shocker. Markets don't just go up. They bounce up. And down and to the right. Now let's talk about Palantir. So Palantir, dude, I saw so many memes this week about all these eitolas going, what does Palantir actually do?

DAREN BLONSKI CFP®: And Palantir made this massive bounce. And for those who don't know, Palantir is supposedly a company that does AI and is in all the government systems. It's one of Peter Thiel's babies. Peter Thiel is also... Responsible for putting J. D. Vance in the position he's in, apparently, you know, very influential in the current administration.

DAREN BLONSKI CFP®: Very kind of controversial figure but this is one of his companies and apparently it's just embedded in everything in the government and the idea is that there's AI and they're already reading everything which to me is like this whole thing going on the news about anthropic being unwilling to let the u. s government use their their llms for autonomous weapons that was the controversy last week and then you know open AI steps in says ah Oh.

DAREN BLONSKI CFP®: You can use ours and then tells the public, well, we're not going to let them use ours. But then they basically are because Sam Altman pretty much lies and has a long history of lying to people.

DAREN BLONSKI CFP®: But the, so when you look at a company like Palantir, like what do people really think that AI is not actually already in like all these drones and defense weapons? It absolutely is. So it's just kind of a stupid. Playing out in the media.

DAREN BLONSKI CFP®: Anyway, Palantir did bounce this week. It found a triple bottom here a few weeks ago. You can see that triple bottom right there and it's been working up. But now it went into the 200-day moving average and actually got rejected today. So it's still got to get through that 200-day moving average before it's going to go on higher to all-time new highs.

DAREN BLONSKI CFP®: It did break down on kind of an ugly triple top, head and shoulders. There's your... Head and shoulders pattern broke down. This was the neckline, went below it. Now that it's regained the neckline, you know, I would look at that fairly bullish.

DAREN BLONSKI CFP®: But we still got to get back above that 200-day moving average. But when stocks go down, they don't just go down. They go down, they bounce up. Just like they did going up, they're going to do the same thing going down. So you'll have days where it does really well, weeks where it really does really well, and then actually things are over.

DAREN BLONSKI CFP®: But I would say we're above that red moving average, which is a trader average. We came into there. We did get rejected, show short-term weakness, got a shorter time frame.

DAREN BLONSKI CFP®: But I wouldn't bet against that one yet, actually. I would just stay the course there.

DAREN BLONSKI CFP®: So anyway, if you can tell her what Palantir does.

DANO WEIR: That's great. In my research of it. This is just a guess because nobody really truly knows. But I could imagine that in the intelligence world, you know, you have a ton of documents and signals and creepy things that they're watching. And it would be very hard to coalesce that into bullet points and actions and a lot of different things.

DANO WEIR: And I can imagine that it's a GPT type system that's able to just intake. All of that and crunch it out into this is the bad guy, go get him here, here's his address. And I don't know that for sure, but I imagine that type of functionality.

DAREN BLONSKI CFP®: Yeah, that's kind of how I looked at it. You have a data lake, a government data lake, and then Palantir goes in there and then scrapes the data and makes it make sense.

DAREN BLONSKI CFP®: That's my read of what they do, but it's just super top secret, so nobody knows. Even if you go on their website, it's very obtuse.

DAREN BLONSKI CFP®: Bitcoin, we've been talking about this being the bottom for Bitcoin. Looked like it was going to go on one of its rips upward and then came back in. But notice it held this 20-period moving average, that red line. So I don't think it's over for Bitcoin yet. We'll see how it goes to the weekend. The Bitcoin is one of those things that trades around the clock 24-7. So it starts moving before anything else.

DAREN BLONSKI CFP®: And when politicians do wild things on the weekend, so they don't punish the Markets. Bitcoin is one of those things you can kind of read. And in fact, I had a client reach out to me and said, Darren, I'm really worried about Iran and all this. I'm like, hey, risk assets are still up. Bitcoin's not punishing people too remarkably bad, even through the Iran thing. I would stay the course.

DAREN BLONSKI CFP®: And, you know, we'll see. But right now, it definitely looks like it's got some strength in there.

DANO WEIR: We always like to talk about, you know, the narrative and then how things react. And it's very logical that in the week that we attack Iran, and it seems like there's been some, quote, military success, however you want to define that, that Palantir would bounce 15% in the week. That makes a lot of logical sense.

DANO WEIR: It also makes logical sense that Bitcoin, which is the tip of the risk curve, would have done something, you know, would have reacted in an extreme way on the result on news of this. Action, right? And instead, you know, counterintuitively kind of just did nothing. So it's an interesting kind of tale of two assets.

DAREN BLONSKI CFP®: Yeah, I mean, that's the that's the thing with the Markets. Right. Is like, if you think you've got it figured out, you don't. And the market always invites humility, always invites humility.

DANO WEIR: Yeah.

DAREN BLONSKI CFP®: And yeah, you would think, oh, we're going to bomb Iran. All these military companies are going to go up and Palantir is going to go up. And, you know, but, and here's the really sad truth of it though, Dan, is that war is actually probably pretty good for the market, generally speaking.

DANO WEIR: Yeah.

DAREN BLONSKI CFP®: It's very stimulative in nature and that's sad, but that's the truth. And so if you're thinking that you need to run from the Markets because of a war, history doesn't really support that approach.

DAREN BLONSKI CFP®: Let's talk about 10-year interest rate, right? We had these look like mortgage rates were going down and all of a sudden they spiked back up above 6%.

DAREN BLONSKI CFP®: You can see the 10-year look like it was really going lower. Broken below 4%, and then we ripped up when things started bombing. We started bombing Iran. And we still haven't gone up above that 4.19 zone that I think will be resistance for it. But we're definitely coming into a stronger interest rate.

DAREN BLONSKI CFP®: Trump very much wants to get interest rates down before he walks into reelection and wants to do it within enough time to let people feel good about the market. And there's a lag, right? So if interest rates go down, there's like a nine-month lag.

DAREN BLONSKI CFP®: So we're already past that window. But it definitely would help if interest rates went down lower. We're right sitting on that 6% line now. This is the 30-year mortgage. But when I quote it out from other people out in the ecosystem, it's above 6% now unless you get some points back.

DAREN BLONSKI CFP®: Dow Jones Transportation. So let's look at some of the leading indicators. Yourself. Let me argue to the side of like, hey, market's actually headed down. We're looking at a rougher time in the market. The transportation's got whacked. Lawnmower whacked this week. You had a triple top hit, right?

DAREN BLONSKI CFP®: There's your triple top right there. You had neckline right below neckline broke down. And now we're into support around there on the transportation. Why is that important? Because that's the artery of the economy. Why are they getting whacked? Well, if oil is really going higher, I mean, all these trucking companies, the cost is going up.

DAREN BLONSKI CFP®: Anything that moves things around, it's just got more expensive. When we look at IWM, it's definitely been the shining star, the Russell 2000, which are smaller cap stocks with interest rates going up. That's going to give them a haircut. So they're down.

DAREN BLONSKI CFP®: And going back to my point earlier, these value stocks, these stocks that were doing really well for the year, got smacked down this week. But then some of the other ones did okay. So you could argue like with Dow Jones Transportation, IWM going down, SOX going down, which is the semiconductor index. These are some of the leading indicators.

DAREN BLONSKI CFP®: We're in trouble. But then when you go to IGV, it's interesting. IGV is like the front end of the risk curve and it's ripping. It's going up. It looks positive. So I'm not there yet to say, I think the market might be calling a bluff. On this one pretty soon. And it might quiet down faster than people think.

DAREN BLONSKI CFP®: I think it just depends how much of a regime change the Trump administration's going after and how complicated it gets. But the fact the front end of the risk curve, IGV, is going up, and then you've got Bitcoin actually holding it together, and you don't have gold just going to the moon.

DAREN BLONSKI CFP®: You know, I think people have jitters, but I don't think it's as bad as, you know, certainly the news wants you to think it is.

DANO WEIR: From a market perspective, and I think of the tale of two Iraq wars, which is that, you know, the first one was, what was it, 100 days? Something like that in 91. And then the second one was a very long, long, long war that was not even really a war, just a series of conflicts.

DANO WEIR: Yeah, it feels like, to me, just having lived through a couple of these as a civilian, certainly, feels like it's going to be either one of those. September doesn't seem likely to me. It seems like May or it seems like May 2029. You know, I mean, this is one of the two. Super short or super long to me.

DAREN BLONSKI CFP®: Well, and I think it just it's like, well, what's the objectives here, right? Like, are they going to go for the break up the whole Iranian? Country and let the Kurds take over part of it and then Pakistan take another chunk of it you know I think they just want to secure it's kind of like what we're doing in Venezuela Like, oh, this guy is being difficult.

DAREN BLONSKI CFP®: We'll take him out and we just need our puppet dictator in place. And I think as soon as they get a puppet dictator in place, they'll be good to go.

DAREN BLONSKI CFP®: But yeah, there's the pragmatism in me, right?

DANO WEIR: Yeah.

DAREN BLONSKI CFP®: Yeah. So overall, like, yeah, I mean, things are scary out there. I feel pretty bad if you live in Iran. Pretty bad if you live in Dubai, pretty bad if you live in Kuwait, Bahrain, pretty bad if you have a loved one who's over there in the middle of it.

DAREN BLONSKI CFP®: But the market isn't freaking out, that's for sure.

DAREN BLONSKI CFP®: Just take a look at Nvidia, nothing really meaningful there. I think we close it there, Dan. That's all I got to say to this week.

DANO WEIR: Darren, thanks for looking at the charts. Thank you for checking out the show. Our episode, The Oil Market's New, and why the activity in the oil Markets, we were talking about it literally last week, was that in conjunction with some news headlines really indicating that something was going to happen and something did happen. So we thank you for making it this far in the show.

DANO WEIR: Wherever you found us, whether it's YouTube, Spotify, or Apple Podcasts, You will keep up with us in future episodes of the show. You can also learn more about our Firm. Book your wealth analysis at SonomaWealth. Com. If you're new to our Firm, if you're one of our clients, we thank you very, very much for making it all the way to the end. We'll see you next week.

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CHRIS SIPES CFP®: Fermata Advisors LLC is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered or is excluded or exempt from registration requirements. This content was produced by Fermata Advisors LLC, DBA Sonoma Wealth Advisors, DBA Fermata 401K, DBA Fermata Tax.

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