Oil Will Lead the Way

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All right, I’ve got my box of Blue Bottle coffee, my Bob Ross playing, and the house is ice-cold, so I’m starting to get my wits about me again. I completely blew it this morning, in my got-up-too-late fog, and dumped my ETF positions (TWM, QID, ERY) in a fit of pique. That was not good. I have re-entered some ETF positions, but, sheesh, getting up at 7 a.m. doesn’t work for me. I really need to stick to my 5:30 a.m. arousal, as it were.

Looking at the commodity ETF below, I think it’s in big trouble, and oil will lead the way lower. My principal ally is tinted in green: all that overhead supply. I have offered up a prospective (and my preferred!) path with that red arrow.