The president announced he canceled a planned military strike on Iran because they agreed on perimeters. Not terms. Not conditions. Perimeters.
Iran asked nicely, apparently. Them and their regional neighbors. They called up the White House and said hey, could you not bomb us today, we're working on some perimeters over here. Trump said sure thing, I love perimeters. Best perimeters you've ever seen.
Retail traders immediately began scanning their TradingView charts for bullish perimeter patterns. They will not find any. Perimeters are not a technical indicator. They are what you agree to before you agree to anything that matters.
The S&P moved 0.3% on the news because algorithms detected the word "deal" and bought semiconductors. A deal has not been made. The perimeters of a deal have been agreed to. This is like saying you and your ex-wife agreed on the perimeters of getting back together, which means you agreed to stay divorced but maybe text less.
Somewhere in Tehran, a government official is explaining to his colleagues that perimeters are the thing Americans discuss before discussing frameworks, which come before preliminary talks, which come before negotiations, which come before deals. He is holding his head in his hands.
Gold sold off because peace is bad for gold, even though there is no peace, only perimeters. Oil spiked, then dropped, then went sideways, because traders could not decide whether perimeters are priced in.
The White House did not clarify what the perimeters contain. My guess is they contain the area inside the perimeters.
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