Now about the oil trend. Obviously oil is shooting up to the moon right now and it seems it will continue to go to the sun soon. But if history is any indicator, I think we will see a quick pullback of oil very soon, probably in a magnitude surprising everyone. See the chart below for USO, an oil fund.

USO has gone parabolic. It’s up 40% for 2026, with most of that gain over just the past few days. Its relative strength index (RSI) closed yesterday at 83. Anything above 70 is considered “overbought.”

This the most overbought USO has been since March of 2022. Back then, USO fell 20% right away. Then oil rallied to a higher high before making a more significant top.

The few other times USO has hit overbought levels over the past few years, were followed by immediate declines as well.

As such, I'm betting against it right now. Just like what we did about a week ago to bet a rebound for the software sector that was falling like a rocket, by going against the herd, we quickly got a double. I'm confident we will be a winner as well for the oil betting.