Monday Morning

I've been playing around with the new charting system over at Sentimentrader.com and I've gotta say.... very cool. Jason and the team over there have done an excellent job. I'm definitely excited to see the interactive chart upgrades, and still believe that Sentimentrader.com is one of the best values on the web. I get no financial gain by plugging them, I'm just a happy subscriber like anybody else. 

Anyway, I plotted the Crude COT commercial positions vs Crude Oil Index so you can see the correlation since about 2009ish. I've inverted the COT positions so it makes more sense visually. This is an intermediate to long term indicator..... and is giving the signal that we should expect to see weakness in oil moving forward. I posted a seasonality chart below so you can see the interesting calendar position we're in.