🎯 Risk-off shock: oil above $100 is driving an equity reset, with S&P 500 futures down ~1.0%-1.18% and Nasdaq futures off 1.18%-1.27% as Strait of Hormuz disruption fears reprice inflation and growth. 📊 WTI traded around 104.24 after an 8% surge at the open; Dow futures fell 0.93%-1.11%, Russell 2000 dropped 1.85%, and the 10Y yield held near 4.317 as markets priced a supply-shock macro impulse. Crypto joined the de-risking move with Bitcoin down ~3%-3.5% and Ethereum off ~4%, while VIX edged higher by 0.64%-0.66%. Sustained oil at 110-115 would tighten financial conditions via higher CPI pass-through and margin pressure. 📊 Technically, $SPY faces a key gap zone from 672 to 660, with weekly expected move framed at 667/692; for SPX, 6697 is first support and 6936 is resistance, with the 200-day moving average and 20-day EMA in focus. 🔥 What matters next: Monday’s cash open, PPI Tuesday, Netflix earnings Thursday, and Friday OPEX. If crude remains above 100, expect pressure on cyclicals, lower rate-cut expectations, and renewed leadership from energy over growth. #Markets #Oil #Futures #Macro #RiskOff