The Hexagon Meets the Ceasefire Rally, Banks Bought War, The Market Bought Peace
Six banks reserved against a war. Friday, the S&P hit an all-time high pricing peace. Q2 is when we find out which signal was the truth.
CNBC, AP, and WSJ covered Dow +868 and S&P 7,126 as ceasefire relief; none put Friday's rally on the same page as Monday's Goldman $315M reserve build.
Stocktwits and fintwit circulated the hexagon chart from the paper's Apr 17 lead next to the Dow print as a single image — receipts, not a rally.