Energy

CTA Trend Following model shows managers are long grains and stocks. Stopped out of Fixed Income.
Crude Oil futures tacked on another 1% overnight as tensions surrounding Iran continue to rise.
There once was a time not too long ago that you did not want to be short Crude Oil into the weekend with escalating geopolitical tensions.. Last night, President Trump authorized a military strike on Iran but called it off after back-channeling through Oman and letting Iran know that Washington would rather talk.
Crude Oil futures has been awaiting a moment to ignore bloating U.S supplies, growing U.S production and slimming demand. Yesterday was that day. Crude roared higher along with risk assets in a central bank induced frenzy.
Natural gas futures and live cattle futures are beginning to form constructive bottoms. We are looking for technical buy setups in futures and highly correlated ETFs.
Prices last week in WTI Crude Oil Futures fell 2.7% and closed at $52.50 per barrel. Last week supply concerns pressured energy markets. Although, after a tanker explosion on June 13 prices and volatility were briefly higher.
WTI futures up slightly today and lower on week. Yesterday IEA cuts oil demand growth forecast following Wednesdays bearish report from OPEC that trimmed its forecast for world oil demand,
Last Friday marked the first day of the Chinese Lunar New Year, also known as the Spring Festival, China’s most important holiday. The fire rooster struts off-stage, clearing the way for the loyal earth dog.

Santa baby, slip a little bitcoin under the tree for me.

E-mini S&P (December)

Yesterday’s close: Settled at 2639.50