Stocks opened higher amidst widespread "excitement" for Iran to agree to the latest "deal" advertised as imminent by the White House.

As headlines then hit calling that deal into question, crude began to firm, stocks began to weaken, the dollar and yields firmed, while commodities, including gold and silver, began to weaken.

That weakening trend continued until the close, with the S&Ps going out near the lows with a loss of half a percent.

We still await Iran's official response to the latest "deal," but Trump has already indicated that Iran has another week to "do the right thing." So, we potentially have another week of fake deal BS to see prices swing back and forth on.

Crude recovered from early losses to end largely unch. Commodities gave up early gains to end down or near the lows of the day. BTC lost 2 percent, while yields and the dollar recovered from early losses to move higher.

Gold reversed early gains to end up only a touch, and silver reversed a 6 percent pop to end up only 2 percent.

The GDX similarly gapped up but then ended down a percent.

I still have my same concerns regarding the metals and expect prices to move lower before eventually moving MUCH higher. But like in the spring of 2020, being early can be painful.

With both the final say from Iran on the last BS deal and the jobs data on deck, it should be a fun one....

My gold model remained at neutral.

Positions: My equity shorts remain unchanged, as do my longs.

Metals: long GDXD and ZSL. I also added the SLV 70 puts for tomorrow for 18 cents.