The Nasdaq was at 6,400 before the pandemic. It then fell to 4,400.

2 years later, it was at 12,400. Those that saw the 6,400 high couldn't imagine the Nasdaq would DOUBLE in 2 years. Key word 'imagine'.

As long as the trend is up, you don't fight the trend. Just like those that couldn't imagine Nasdaq at 12,400, they probably can't imagine Brent crude at 200 bucks or $XLE at 150 dollars.

Oil is in a bullish rectangle and it should break out in the next 2-3 weeks.