In 2007 they placed their faith in real estate agents, this time around they trust corrupt game show hosts, Goldman Sachs, and Exxon. Same idea...An Idiocracy never learns...
Here we see the U.S. Oil ETF which embeds the cumulative futures losses from the persistent oil glut. Also shown is the oil volatility index (OVX). The last time volatility was this complacent was back in 2014, right before prices crashed. In other words they bought the Exxon/OPEC fantasy with both hands, even as the glut worsened...
U.S. Oil inventories have NEVER been this high at this time of year:
The Natural Gas ETF (OIL in grey):
The dollar gapped up to a new multi-year high, in a fifth wave overthrow. And is now giving it all back...
aka. Island reversal of fortune:
The Nasdaq back-tested the upper trendline and then fell back into the range...
JP Morgan with a cherry on top...
