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XLE has zigged while CL zagged. I see a gap: crude already trading at a level that could justify XLE down in the $85 area, and crude looks like it’ll drop to $62 per barrel if it makes a new low.
Risks for crude prices: deregulation under Trump, peace with Russia ending sanctions (my guess is oil and gas sales would be resumed first), and the ongoing slowdown in major economies from Asia to Europe.
Tesla finally backed off its post-election craziness on Tuesday, but in the months ahead, I think it might follow a path something along these lines:
I first wrote about Cava a couple of months ago, when it was already sky high. Well, now it’s sky-high-er. I mean, I admit, if these guys had locations near me, I’d be a regular. This stuff looks tasty.
As I’ve been mentioning, the bond bear market has fully resumed, and TLT has been range-bound. After the big bounce last week, I pointed out the blue trendline as resistance. We have sunk since then, pushing rates higher.
