Where do we see the markets go from here? Well I for one think that despite the plunging price of crude oil we are seeing an ongoing recovery. It's always puzzled me that just how quickly the world has forgotten the Credit Crunch of 07-09 and that any recovery (from what was at the time the end of the financial system) was going to be a decade long.
We are living in a new Imperial Age when the most exciting electoral prospect are Bush vs. Clinton (which Obama was only barely able to budge by 8years). At the end of the day the Central Banks are still continuing with the stimulus plans (especially in the Eurozone and GBP area where the Euro continues to weaken against the USD maybe all the way to parity?)
Other than that where do I actually see oil go? I think we may see it plunge down to $30 even before recovering to the $40-50 format. The commodity story isn't going to go anywhere and with the plunging price of solar power.
As he did with oil & gas reserve once again Allah smiles on the Ummah as making it among the sunniest places on earth (of course there are elaborate geopolitical explanations on why that is the case but let's stick with the religious one for now as Muslims needs all the manna they can get atm).
It seems that the world is going to enter a new systemic bull cycle, low oil prices are going to compete with dropping solar energy prices to industrialise the Rest of the world.