Crude oil's inventory report is out and much to my relief, it did not soar. While the market digests the news, we still haven’t really budged since the Big Black Down Day a week ago. Since then, we’ve just been hanging out at $46 or so.
More important to me, however, is energy ETF XOP, which I firmly believe is in a big-time topping pattern. I was already long DRIP and I put on a new ERY position this morning ahead of the report. I shall now return to prayer.