This portends great fortune for energy bears.

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By far the greatest use of a sine wave I’ve ever done in charting was the one for the long-term natural gas continuous contract (how often have you heard THOSE words at a cocktail party?)

Good morning, everyone, and what an early morning it is: just past 4 a.m. here in the Bay Area. Although the screen is largely screen, there’s one key item which isn’t, and that’s my old friend crude oil:

I enter the new year the same way I left the old one: that is to say, so short energy that I could jump off a dime. The two ETFs below are indicative of the subtle shift taking place in the sector which was the only meaningful winner for bulls in 2022.

I’ve got to say, the sinewave I laid down on natural gas early this year has been incredibly prescient.
