$LUNC looks close to closing above the 7200 level. If it does, the 8400 target zone comes into play.

I won't be taking a long position here. Out of roughly 50–60 #LUNC trades I've shared over the years, only two have hit stop-loss, and both were longs. Most of you have witnessed that track record for years already.

So, as a totem for all of you, I'll stay away from this one.

If an Iran–U.S. agreement is reached, this tailwind alone could even push lunc toward dropping an entire zero.

And if, on Wednesday, a Fed official starts talking about rate cuts...

Markets could shift into rally mode for a while.

Keep a close eye on the news flow.