Well, happy weekend Slopeland!  I hope it has been a good start to 2022 for you.  It has certainly been an interesting and profitable year thus far, which brings me to today’s post.  I try to compose posts around what I perceive to be key turning points in markets, and I think our current market qualifies.  Today, I want to try to bring some closure to what has been my baby of late… crude oil.  I will also discuss interest rates, and the outlook for the S&P 500 for the remainder of the year.  Let’s take a look!

Below is a one year chart of the monstrosity that has become crude oil.  I have been heavily involved in the energy space for nearly two years now, coming off the Covid crash low.  On Monday through Wednesday of last week I sold off all of my energy-related positions.  Why did I do that, and what do I think is ahead for the oil market?