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Good points.
Jul 23 10:29 am
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All Comments by NOWHEREMAN »Oil and Energy Stock Correlation [View article]
There are two other charts worth a visual:
1 year exxon, XOM, and 5 year XOM.
There is no sign of a bubble. It looks like a staircase and step 2 is within 5% of breaking down but until it does so the trend remains up.
If one looks at the width of the first step, the evidence seems to say that a 3rd step may be imminent. In recent days, XOM has been resisting the head fake WTI is presenting.
For all the talk about Traders manipulating the Oil complex, the biggest one of them all has been Congress.