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2016-08-23_17-00-04 copy 2

EIA REPORT For the week ending 8/26/16

Screen Shot 2016-08-31 at 10.32.20 AM

Compare Reports:

API

  • Crude +942k (+1.5mm exp)
  • Cushing -620k
  • Gasoline -1.6mm (-1.25mm exp)
  • Distillates +3mm (+275k exp)

DOE

  • Crude +2.276mm (+1.3mm exp)
  • Cushing -1.039mm
  • Gasoline -691k (-1.25mm exp)
  • Distillates +1.496mm (+275k exp)

Peak driving season is behind us as crude builds for the second week. Warning lights flash on Distillates building.

2016-08-31_10-38-58

Initial Prints of WTI responding to EIA Data

UST Yields and Equities are crushed on WTI decline post EIA data dump.

2016-08-31_10-55-45

Our biggest fear is the unlocking of overhead supply from the P-Shape distribution on the Y-AXIS. If the higher timeframe does not believe in the trend panic will generate liquidity gaps.

Screen Shot 2016-08-31 at 10.35.20 AM

Aug 31, 2016 Four timeframe perspective of WTI

Deja Vu Rig Counts (Black Line) vs. WTI spot

Screen Shot 2016-08-31 at 10.37.07 AM

Strong dollar woes adding to selling pressure on CAD/USD and in return lower purchasing power.

2016-08-30_16-45-38

Wait, all the analyst say 2016 is the rebalancing Year! Industry insiders push back forecasts of rebalance to 2017!

2016-08-30_17-03-47

Summary: Don’t look at this chart.

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Bonus: Dr. Copper pending a liquidation <200 simple moving average monthly. Unprecedented. Dr. Copper saw reality now vomits.

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