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On the first day of August, #WTI oil prices rebounded near 87. The US and Iran have started a new round of attacks, confirming the previous concern that geopolitical risks would rise after the interest rate meeting. Previously, I said that for geopolitics, the interest rate meeting is one node, and another is the CPI release on 8/12. This weekend might not be calm. However, with the midterm elections approaching, both sides have little time left. High oil prices cannot be sustained for long. I regret not taking a swing trade when it previously dropped below 78. I also opened a short position over at #OKX. Hopefully, geopolitical risks will ease soon. After all, $BTC Bitcoin recently dropped below 63 after the 628-652 swing, and I want to catch this move as well. The market is not good, so I’m taking some swing profits from Bitcoin (actually, Ethereum follows Bitcoin’s lead, and the range is decent). Then there’s the US stock market. Also, the $SPCX spot and contracts—I'm not worried about the floating losses from oil prices. Just watching to see if $SPCX can improve around the earnings report next week. Overall, there’s no interest rate meeting this month, so macro remains the main theme. If geopolitical tensions ease and downgrade again, oil prices will fall back, which will boost both US stocks and Bitcoin somewhat. But this alone might not be enough; a lot of volatility is still likely. DYOR