Yo Pit Crazies,

And there it is, the White House gives the green light to strike nuclear facilities, and Iran retaliates by hitting bases in Qatar. For now, Tehran is calling it even. Is this a signal for de-escalation? It seems that way. Iran has been significantly weakened—its capabilities halved, with no effective control over its own airspace. Like a wounded badger, it’s still dangerous, but far less lethal.

The key takeaway is this: there’s less and less appetite for Iran’s brand of regional aggression among the Gulf States. Most are now focused on growing tourism and serving as havens for European expats. Despite the weekend’s violence, markets opened flat, dipped briefly, then rallied strongly after Iran signaled it was done—for now.

So where do we go from here, with the market seemingly stuck at 600 on the SPDR S&P 500 ETF (Ticker: SPY)?

Do we stay on this road to nowhere—or is it time to take the path less traveled?

VIX was 16.20 before all this Iran action 

If this trend continues, it’s hard to see how the VIX doesn’t return to the 16 range in short order. As for equities, all-time highs could be within reach—potentially as soon as this week.