Although the war of attrition of Iran may be over, the SOH double blockade is not, and lingering elevated energy (oil & gas) may drag Wall Street & Main Street down.

●      Apart from Iran war ceasefire optimism, earnings & AI/big tech optimism are also helping Wall Street.

●      At around $1642 EPS for CY25 (GAAP) and 50000 levels, the current PE is 30 for DJ-30, at the historical bubble zone.

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