08/03/16 08:26 AM EDT

What's Next For Oil (As The Chart Chasing Pros Freak Out)

Keith McCullough

Takeaway: Oil & Energy assets are a big part of the asset inflation the Fed needed off the lows. My risk ranges signal lower-highs and lower-lows.

Every time I refresh my immediate-term risk range model (price/volume/volatility) I get a lower-high and a lower-low; currently that risk range for WTI = $38.71-42.24 with bearish TREND overhead at $47.55; how does this problem go away?

Editor's Note: The snippet above is from a note Hedgeye CEO Keith McCullough wrote for subscribers this morning. Click here to learn more.

What's Next For Oil (As The Chart Chasing Pros Freak Out)

Cartoon of the Day: $VIX

CHART OF THE DAY: The Folly of S&P 500 Price Targets

CHART OF THE DAY: Global PMIs = Global #Quad3

CHART OF THE DAY: THORChain Cumulative Swap Volume By Affilate

CHART OF THE DAY: International Equity Markets That We Are Short, Are Crashing

CHART OF THE DAY: Honing Your Tools

Stock Spotlight: Hubspot Gains +36% in Under 90 Days—Why We're Still Bullish

CHART OF THE DAY: Historic Volatility (One of the Largest $VIX Spikes Ever)

Macro Monday 12/16/24: Inflation is Back, and Consensus is Catching Up

What Most Investors Get Wrong About Market Crashes—and How You Can Avoid the Next One

Know When to Get Out: Staying Ahead of Market Crashes

CHART OF THE DAY: Consumer Resilience

CARTOON OF THE DAY: 'Twas the Night Before...

CHART OF THE DAY: Buy the Dip, Sell the Rip

Cartoon of the Day

CHART OF THE DAY: Racing In The Rain + OODA (Observe, Orient, Decide, Act) Loop

Sign up for free: Hedgeye's Market Brief