I’m having a good day (for the moment; I’ve learned not to trust these markets), and I’m particularly intrigued by the crude oil chart since I have a number of energy short positions. I’ve noticed that crude has been a relatively reliable trending market. It actually can sustain an uptrend or downtrend for a solid month or so (which is incredible these days). At the risk of oversimplifying things, here’s what I see:

(Click on image to enlarge)