Triggered by Trump’s war-mongering remarks, U.S. stocks fell at the open tonight, but a lower open does not necessarily mean a further slide—because the market had already been falling earlier in the day. Even if the fighting starts, it’s no longer appealing; it’s like the first punch has already landed, so the second one won’t hurt as much. The mission of a late-night pull-up falls on Warsh from the 2:00 a.m. Fed meeting minutes. As long as he maintains the same mild tone as last week, a V-shaped reversal will occur when the 4-hour MACD goes back to zero.