Loading ...WTIC Crude Cycle
I know that Mark is very bullish on Crude here and has $62 target. His charts and analysis are some of the best and Crude has made a bullish move here. That said, my cycle analysis shows crude testing/breaking some of my trend lines late this week fairly long into the Trading Cycle #2 count at 42 days.
So perhaps we get a very mild TC low and then we are off to the races again (Trading Cycles in Crude average 35-52 days, TC Low to Low).
Mark, Here is Gary at SMT’s take on Oil here. He thinks a move is coming but is not sure which direction but also has a target in the $60 range before the longer 5-6 month Intermediate Cycle tops.
http://blog.smartmoneytrackerpremium.com/2016/06/opportunity-coming-oil.html
Gary is a drunk monkey throwing darts. He has no clue and he flip flops on his positions daily, frustrating his subscribers because he’s always so adamant about his “position du jour”. He never stands behinds his “guarantees” he always makes in his videos about HUI moving down to mean reversion, March consolidation, etc….He’s very impatient with his own trades but admonishes his followers when they aren’t patient. I have no idea why anyone follows him.
Plus, by his own admission his energy portfolio has lost 9% since he entered last year. So much for his cycles….if you bought the energy sector on Jan 1 it was nearly impossible to lose money this year. My positions have averaged a double even having bought a good chunk in Dec.