I still think so. May take more time but I still think so.
Refinery maintenance season is upon us. Less demand for oil, supply side overflowing. Tomorrow's inventory report is going to prove that. Watch for a sharp drop in WTI as of tomorrow 10:30.
As oil drops,.so will S&P and NASDAQ and, accordingly LABU.
Look at WTI's chart from Jan 2015 to now. When oil goes up, after maintenance season, we should get a really good run.
But.....
Maybe not.
Happy trades!