What Do Tesla, The Keystone XL Pipeline, And $100.00 Oil Have In Common?

Tesla, Inc. (TSLA), gained a whopping 353.68% in the past 12 months. Its percentage gain is slightly under the combined gains of the 8 U.S. Major Indices, as shown on the following graph. 

It could be a stand-alone index at this rate!

The following 5-year daily chart of TSLA shows that price is hovering just above its 50-day MA, following a volatile, feeble, whip-saw rally since its low on March 5.

Price is at a critical juncture, in that the RSI has tentatively risen just above 50.00, while the MACD and PMO have just formed bearish crossovers.

A failure of TSLA to hold above both the 50-day MA and the 50.00 RSI level, could see a hefty pullback occur in short order to the 200-day moving average at 567.46, or lower.

However, if it can hold above the 50-day MA and the 50.00 RSI, and if we see bullish crossovers form and hold on the MACD and PMO, it could, concievably, retest its all-time high of 900.40, or spike higher.

With Tesla's Q1 2021 earnings report out now, we'll see whether buyers step back in...or not...in view of lowered analyst sentiment and a decreased yearly EPS forecast for fiscal year end December 2021, following two back-to-back quarter misses (-61.9% for Q4 2020 and -11.36% for Q1 2021).

Furthermore, the following news may put a damper on bullish enthisiasm. And, if that becomes a pattern among car buyers, we could see WTI Crude Oil reach $80.00, or even $100.00, in no time (monthly chart below), unless OPEC increases production to avoid runaway inflation and voter backlash against world leaders, especially U.S. President Biden. 

Perhaps Joe's cancellation of the Keystone XL pipeline project through the U.S. on Day One of his administration (together with his frenetic fracking bans to please out-of-touch-with-reality jet-setting world climate zealots, particularly those who may be or were invested in oil stocks) was catastrophically short-sighted and ill-advised...and every day's delay in its construction will see costs skyrocket, especially if Oil spikes.

We'll see what happens...and whose hotline rings first. Prime Minister Trudeau, are you paying attention?

Source: ZeroHedge.com

S&P 500 Futures Index Approaching Bearish Head & Shoulders Neckline

* See UPDATE below...

My post of January 31 contained Pivot Point support and resistance levels/targets for February for the S&P 500 Index (SPX).

The following weekly chart of the S&P 500 Futures Index (ES) shows that price is in the midst of forming a bearish Head and Shoulders pattern.

The sloping neckline on this formation sits around 4200, which is just below February's SPX S1 support level.

Should price break below that level, the next levels of support are around 3900 and 3600, respectively...just below SPX S2 and S3.

The Balance of Power is still held by the sellers...and will continue if price breaks and holds below 4200.

If not, price will continue its volatile, directionless whipsaw swings in both directions within this typical topping pattern.

* UPDATE February 23 (11:00 pm ET)...

WAR: Russian President Vladimir Putin has declared war on and attacked Ukraine.

Source: ZeroHedge

Fox News Pentagon correspondent Jennifer Griffin just reported that,"It's the beginning of a very serious full-scale military invasion of Ukraine, according to a senior U.S. administration official."

Markets around the world are plunging.

Follow ZeroHedge on Twitter @zerohedge for live commentary.

Source: ZeroHedge

As at 11:00 pm ET, the S&P 500 Futures Index (ES) has sliced through the Head & Shoulders neckline at 4200 and is trading well below, as shown on the following weekly chart.

The next major support level lies at 3900.

SO, NOW WHAT?

President Biden needs to immediately reverse his ban on the Keystone XL pipeline project from Canada and reverse restrictions on oil and gas drilling in the U.S., in order to unleash increased production and bring down spiking oil, gas and gasoline prices that triggered, and are contributing to, the inflation spike.

Inflation is out of control and stagflation is biting its heels...threatening national security! 

This is not a problem that can be solely rectified by the Federal Reserve. 

Biden's administration owns this and it is incumbent on President Biden to restore economic and national security stability to the United States...without further delay.

Wake up, America!

~~~~~~~

NOTHING
FALLS INTO
THE MOUTH
OF A
SLEEPING LION.

- Wise words with love from your ancestors.

~~~~~~~

How Does This Make Sense And Lead To A Sovereign Ukraine?

* See UPDATES below...

As long as the US and Germany (and any other country) continue to buy oil and gas from Russia, they are partially funding President Putin's war against Ukraine, are they not?

Source: ZeroHedge

President Biden needs to reverse his executive orders that:

• banned the Keystone XL pipeline from being built from Canada (which was already well under construction), and

• banned further oil and gas exploration and drilling in the US on Federal lands and imposed further restrictions on the industry,

which, thereby, placed the US in a much weakened position with respect to energy and national security concerns...and a weakened position from which to respond to global crises, such as Ukraine and Afghanistan.

Until he does, he will have to continue to buy the excess oil and petroleum products the US currently needs from Russia...to fuel America's ever-increasing need for viable energy...and will continue to finance Putin's brutal war.

Source: AFPM

(American Fuel & Petrochemical Manufacturers)

Source: USEIA

(US Energy Information Association)

Biden's agenda and policies that he's enacted since he took office in January 2021 have contributed to and triggered numerous economic/inflationary and international and national security crises.

If he continues with these policies, including buying Russian oil, etc., to the exclusion of unleashing oil and gas production in America, or, even worse, making a deal to buy it from the brutal terrorist regime of IRAN, with whom he's already negotiating, he can add the demise of Ukraine to his growing list of failures...all under the guise of promoting so-called "green energy policies" to, purportedly, combat "climate change"...at the expense of America's own dependable and readily-available supply of oil and gas and at the expense of Americans and their pocketbook (inflation).

Why is the Biden administration ready to make deals with even more "Devils?" 😕 

N.B. On that point, WHAT will Biden give away to Russia and Iran in exchange for trying to sign a new nuclear deal with Iran, as may be imminent, according to the following article?

WHY is he so anxious to get back into that deal? He hasn't explained that to to the American people. 

WHY is he so anxious to buy Iranian oil, but not allow U.S. producers to ramp up their domestic production?

IF Russia's oil is sanctioned by the U.S., will Russia circumvent that by selling it to Iran, then Iran sell it onward to the U.S.?

WHY is Biden weakening America's energy sector with these actions? 

 WHY is no one asking him these questions?

Source: ZeroHedge

ZeroHedge excerpt

N.B. So, IF Biden continues to "lead from behind," it's doubtful we'll see the U.S. ban Russian oil imports, unless Europe does, as well.

Source: ZeroHedge

"Biden's own 'green deal' lunacy"...

ZeroHedge excerpt

By the way, President Biden really has no reason to go before Congress and the American people tomorrow, during his State of the Union Address, to tout any of his policies that he's unleashed over the past year as being successful...in fact, quite the opposite is true.

So, how does any of this make sense and lead to a sovereign Ukraine, especially since President Zelensky, reportedly, just filled out an application for membership in the EU?

German, EU, and US leaders need to explain how it makes sense...and why they are, incidentally, financing this Russian invasion of Ukraine...which includes acts of terrorism and war crimes against civilians and children.

* UPDATE March 1...

It seems that Americans do NOT approve of the job that  President Biden has done over the past year. His approval rating is now down at 37%. 

It's no wonder, as his left-leaning socialist policies are NOT popular and he was NOT elected with a clear majority mandate in Congress to implement them.

It's time for him to drastically change course to a more sensible and centrist agenda that could garner bi-partisan approval and eliminate the harsh divisiveness and chaos that he's caused among the population.

Source: ZeroHedge

Talk about devastating timing with the release of this report right before President Biden's SOTU Address tonight...stagflation rears its ugly head.

How will Biden explain that to Americans, while still pushing his massively-inflationary spending and energy-crippling agenda!

Source: ZeroHedge

Also, the EU has just voted "YES" to accept President Zelensky's membership application to join the European Union.

* UPDATE March 2...

President Biden, in his SOTU Address last night, touted the same old tired, far-left socialist agenda and spending priorities. 

His speech lacked any acknowledgement of reality relative to the economy and the impacts of rampant inflation, triggered by his policies, as described above.

It lacked any fixes for the current state of affairs, and was bereft of any future-oriented imaginative and prescriptive ideas to sustainably and responsibly grow the economy and ramp up international and national security measures.

I doubt whether his party will be able to convince Americans that their problems are being properly addressed by this administration, so I think the GOP will retake control of both the House and Senate in the November mid-term elections.

As I said, the majority of Americans are NOT in favour of his agenda.

It seems that Mr. Biden is NOT listening...or simply doesn't care...or both.

* UPDATE March 5...

Even electric car-maker, Elon Musk, gets it...why doesn't Joe Biden?

If the Supreme Court rules against Biden, he may not have a choice but to accept the reality around sound, prudent, and pragmatic energy policies...and pivot away from his crippling and dogmatic "green" regulations.

Source: Free Beacon

* UPDATE March 6...

The following article provides a summary of all Russia sanctions and developments, to date...bookmark this link to check back for further updates...

Source: ZeroHedge

President Biden's Energy Policy Is Toast

* See UPDATES below...

I last wrote about Crude Oil (CL) in my post of August 16.

At that time, I mentioned that it was trading in a "Chaos Zone" in between 80.00 and 100.00.

The monthly chart below shows that CL is trading above 80.00 and is still trapped in that zone.

Joe Biden's energy policy, which hamstrings the oil and gas industry in the U.S., while favouring ESG policies, is totally out of touch with current domestic and foreign economic realities and will, ultimately, cause oil and gasoline prices to rise further (Oil to, potentially, 147.27, or higher), as described in my article.

The following ZeroHedge report refers. 

As you can see, Biden has foolishly been squandering America's valuable SPR oil supply (to manipulate the price of oil and gasoline in the lead-up to the mid-term elections in November), with only 22 days of supply left.

Source: ZeroHedge

N.B. Furthermore, this next article describes, in (excellent) detail, why renewable energy sources (wind and solar) are costly, unreliable, and can't ever provide enough heat energy in the winter...and why fossil fuels and/or nuclear energy will still be required to meet all of America's (and the world's) energy needs.

Source: ZeroHedge

ZeroHedge excerpt

CONCLUSIONS:

All of this proves that Joe Biden's reckless energy policy has been blown apart, along with his credibility and abilities as a leader, thereby destroying America's former status of being energy independent (created by former President Trump), in the process.

His Trillions of dollars' worth of spending have spiked the U.S. National Debt above a record high of $31 Trillion.

He's painted himself into a corner and compromised America's national security, as well as the prosperity of Americans, in the process. He does not deserve to continue as President.

Look for a "red wave" to occur in the November elections, with Republicans winning back the House and Senate, etc.

* UPDATE Oct. 6...

Why does Joe Biden favour making (expensive) fossil fuel energy deals with dictators and communist leaders, rather than his own oil and gas producers in America...e.g. Iran, Saudi Arabia, Venezuela, Russia (a previous oil supplier), and China (for wind and solar energy products)?

It (he) makes no sense! 😕

Source: ZeroHedge

ZeroHedge excerpt

Image: Fox News 'Sunday Morning Futures' (July 17, 2022)

* UPDATE Oct. 7...

More idiotic 'wrongthink' from Joe Biden, as described in the report below.

Why has he been hellbent on weakening the U.S. in all aspects, from domestic policies to foreign affairs (e.g., Afghanistan), since he took office on January 20, 2021, when he cancelled the Keystone XL pipeline and gutted the U.S. oil and gas industry on DAY ONE? 🤔

I repeat, ad nauseam...It (he) makes no sense! 😕

Source: ZeroHedge

ZeroHedge excerpt

Aaand...YES...he really is 'taking Americans for a ride!' 😑

Source: ZeroHedge

ZeroHedge excerpt

WTI Crude Oil (CL) closed out a very strong week at Friday's after-hours' high of 93.30...and above the "Chaos Zone" mid-point of 90.00.

* UPDATE Oct. 12...

If price on the WTIC:OVX Ratio can rally and hold above the 200 MA at 1.9354, if the RSI holds above 50.00, and if the bullish crossovers hold on the MACD and PMO, we could see WTI Crude Oil bolt for 100.00, or higher.

WTIC:OVX Ratio daily chart

More Biden Crises Erupt: COVID-19 😕

* See UPDATES below...

Good question, Ari...and it's one that others are also asking.

I'd also ask why he didn't organize a task force to launch an "Operation Warp Speed" to produce these test kits, as well as develop and produce theraputics, such as the "Operation Warp Speed" program ordered by former President Trump to research and produce vaccines for COVID-19? 

He's had months to do so, but sat on it instead. Why?

Add these to the many crises and failures of President Biden's first year in office...which started on Day One when he signed executive orders banning new oil and gas exploration and drilling on federal lands and cancelled the Keystone XL pipeline already well under construction from Canada, which led to an increase in the price of  WTI Crude Oil from 48.52 (at the December 2020 close) to a high of 85.41 this year. 

Of course, this higher cost ended up negatively affecting the costs of all goods and services and contributed to the inflationary numbers we're seeing today. 

Until Biden reverses these orders, inflation will remain high, with energy shortages becoming the norm...quite the reversal from the energy independence and low oil and gas prices that Americans enjoyed, for the first time, by the end of Trump's presidency, thanks to his policies.

Furthermore, until President Biden reverses his prior executive order which cancelled the completion of the wall which was well under construction (by the Trump administration) along the southern border of the country when he first took office, the U.S. will continue importing new COVID-19 cases and new variants via the thousands of illegal aliens who are entering every day...around 2 million did so already in 2021, and most of them were unvaccinated. There is no requirement by the Biden administration that they be vaccinated before being allowed to remain in the country, unlike the thousands of Americans who wish to work and eat at restaurants, etc...which is also contributing to supply chain shortages, worker and healthcare shortages, and inflation.

No wonder most Americans are suffering under his policies, which are negatively impacting national security, inflation, and the national debt, etc.

With three more years remaining under Biden's presidency, I doubt things will get any better any time soon...rather, quite the opposite, so brace yourselves.

Afghanistan Crisis

* UPDATE January 11...

It looks like it's too late for President Biden to get a grip on the COVID-19 crisis...he failed to act in a timely manner...

Source: ZeroHedge

Meanwhile, his top advisor, Dr. Anthony Fauci, has some serious explaining to do regarding the origins of COVID-19...

Source: ZeroHedge

And, there's this...

Source: ZeroHedge

Americans...and the rest of the world...deserve truthful answers, once and for all...on a number of issues related to the pandemic, not just on the origins. 

I've no doubt they will get them, in due course...as is beginning to be released by the US CDC...

Link to video

Link to video

Source: WSJ

* UPDATE January 12...

Source: National Review

* UPDATE January 13...

* UPDATE January 14...

Good question, Glenn...why are Democrats, including Joe Biden, protecting Russia's energy supply...while hamstringing America's oil and gas supply?

And, why did they use the fillibuster to block this bill on the same day that Biden was criticizing members of his own party for not supporting ending the fillibuster rule so he could get his voting rights agenda passed in the Senate?

It's all very nonsensical and hypocritical.

Source: ZeroHedge

More bad news for Dr. Fauci, and, by extension, President Biden, regarding the origins of COVID-19, its funding, and the early findings on theraputics...

Source: ZeroHedge

ZeroHedge excerpt

* UPDATE July 21...

Oops!...more awkward Biden bloopers...he's had 2 vaccination shots and 2 boosters...but still got COVID-19...in spite of his prior declarations that the virus was a "pandemic of the unvaccinated"...

* UPDATE July 23...

Shameful bald-faced lies by Dr. Birx and Dr. Fauci have now been exposed regarding COVID-19, vaccines and the virus origin, as well as suppression of free speech.

Who are we supposed to trust anymore to tell the truth about viruses and vaccines? 😕

What are the penalties for these lies and suppression of free speech??? 🤔

Source: ZeroHedge

Source: ZeroHedge

Source: ZeroHedge

Source: ZeroHedge

* UPDATE Aug. 17...

Perhaps if the CDC concentrated on studying and publishing actual scientific facts, instead of politicizing theories, speculations, fabricated 'facts' (lies) and orders from their political boss (President), they'd provide adequate and appropriate health protection, guidance and services for the public in the future...but, don't hold your breath that it will operate that way any time soon, inasmuch as the Biden administration has its political finger on the scale of everything.

Source: ZeroHedge

* UPDATE Sept. 18...

So, what else is new?...Is anyone surprised?

Source: ZeroHedge

* UPDATE Oct. 12...

Another blatant lie exposed -- this time exposing Pfizer -- which was repeated by Dr. Fauci and President Biden.

It's a doozy, which, no doubt, cost thousands of people their jobs who refused to get Biden's mandated jab!

Where is the accountability and what are the repercussions for all their lies?

Source: ZeroHedge

COVID discriminations didn't occur only in America.

Canada was plagued with its share of unprecedented mandates and discriminations...by its political leaders, under the influence of their health advisors.

With a change in leadership, hopefully these will eventually be resolved to everyone's satisfaction and the wrongdoings will be made right.

It truly was/is the worst of times!

Source: ZeroHedge

ZeroHedge excerpt

* UPDATE Oct. 19...

This disturbing disclosure by Moderna makes me wonder why people were forced to take their original 2-dose COVID-19 vaccine in the first place, or be fired from their jobs, or prohibited from accessing other services and travelling, etc.

There are a lot of things about all of this that don't make sense. Hopefully a new Congress will investigate all of these issues in the new year.

Source: ZeroHedge

* UPDATE Nov. 2...

So...forgive and forget?

Somehow, I don't think that will catch on...too many lies were told and too many lives were (and are being) ruined. 😕

Source: ZeroHedge

* UPDATE Feb. 26, 2023...

So, which U.S. government agency will flip its conclusions, next, about the origins of COVID-19?

The Energy Department joins the FBI and others in concluding that the pandemic most likely arose from a virology lab leak in Wuhan, China.

Source: ZeroHedge

* UPDATE March 1...

The FBI Director has now confirmed, in a Fox News TV interview and in a tweet, that the origins of COVID-19 "most likely" came from the Wuhan lab in China, as outlined in the following Zerohedge article.

Americans are now waiting for President Biden to make the same public declaration...and outline what steps he will take to ensure that this does not happen again, as well as what consequences will befall the Chinese government from this world-wide health and economic catastrophy.

Source: ZeroHedge

* UPDATE March 6...

It seems that CNN (and other news agencies...except Fox News) are more intent on making up "so-called news" than actually investigating stories and events properly and reporting the facts. 

No wonder the Nielsen TV ratings consistently put them in last place!

Nothing has changed at CNN under new management, inasmuch as their reporting is still not credible.

Source: ZeroHedge

The following Fox News TV show aired yesterday and contained eye-opening information relating to the origins of the COVID -19 virus...

Click this link to watch the video

* UPDATE March 18...

The truth is beginning to emerge, regarding negative (and sometimes permanent or, even, deadly) side effects of the COVID-19 vaccines...

Source: ZeroHedge

* UPDATE May 18...

Even the Pentagon, by its findings, has put to rest the claim by Dr. Fauci that COVID-19 originated in nature...

Source: ZeroHedge

* UPDATE September 12...

So, who paid off these CIA investigators and why? 

What is the Biden administration trying to hide from the public?

Source: ZeroHedge

~~~~~~~~~

Judging by the revelations of blatant lies told by Dr. Birx and Dr. Fauci regarding COVID-19, it seems like the following ability is not limited to Joe Biden!