Pullback or Inflation Fears Ignite?

Crude oil broke out on Monday. It was higher for three days in March because of Russia's invasion of Ukraine, but that gain didn't hold. Now it is trading at a higher average price and has broken out of a base. The target is $150 if it holds.

Bad news for my TLT calls: bonds imploded. The stock market followed.

Biden summoned Powell to the White House: Biden highlights Fed inflation role ahead of Powell meeting on Tuesday

QT starts on Wednesday. If the Fed isn't doing enough, it's possible they drop a surprise on the market this month because inflation is becoming entrenched.