WHEN THE MISSILES FLY, IT'S TIME TO BUY

A UN No Fly Zone has just been ordered, which may remove some uncertainty from the Libyan situation. Typically market's a nervous before war, it's the not knowing. When war commences, the market has a sense of certainty and typically rallies.

Below is an example, the white arrow denotes the start of the second Gulf War in Iraq.

Obviously Libya is not comparable, but in a micro sense, it may help to spur some market upside that we saw in late day 3C positive divergences in the Q's and IWM. We'll see if history holds.