AMEX:VXXIPATH S&P 500 VIX SHORT TERM FUTURES TM ETN
Can we power through a gap here, and ignore the mini pipe top burden, and set a new trend upward, as SPY rolls over ( IYT dragging it down), now or later, we will see. Watching how oil price effects IYT , effects SPY .
china Yuan will become world reserve currency because the IMF will allow it. Everyone so worried about the dollar NOT being reserve currency anymore, so people will not translate their currency to dollars before they can sell oil. But, fracking means we can buy our own oil, they saw all this coming, national security and all that stuff. So effect will be less now. Forget the pipeline, build storage tanks. Saudis mad because Obama has picked Iran to be the new middle east policeman now, getting Nuke deal done, lift sanctions, keep ISIS in check, and so they can sell all that oil waiting in tankers, to flood the market, and ... now Saudis not protected anymore by the US millitary. So Opec will keep pumping, dollar will keeping going up and up until they finally decide to slow pumping of the slick stuff. Then we will have the market crash that we should have had back in october 2014, before all this over supply, less demand started taking effect. Check the difference between 2007-08 crash and now. Now oil down, markets remain, then both came down together. This IS THE difference between then and now, and when this artificial oil down, dollar up thing stops, it will all come down crashing hard. If this happens along with rate rise, watch out below.