Citi VelocityShares 3x Long Crude Oil S&P ETN (UWT)

[Sgreg]

S&P 500 has a perfect W formed. FED chairman pretty much said 2 more rate hikes from here and solid growth next year. Economy is in good shape and will cool off some next year but still have 2% plus growth next year. Dollar will now weaken also as tightening cycle comes to an end. Oversold stock market is all setup for a rally. Market rally should boost oil. Dollar weakening should boost. Projected 2% demand growth is good and is a boost. Tigtening cycle nearing an end is a boost too. I think oil finds its bottom soon and recovers to fib retrace which would be about $60.