XLE just broke down from its ascending channel, which might be signalling that the market is pricing in a global slowdown.
XLE also broke down from an ascending channel in '08 and '14. In the case of 2008, SPX crashed. But in 2014, SPX traded sideways/flat for a while
XLE also broke down from an ascending channel in '08 and '14. In the case of 2008, SPX crashed. But in 2014, SPX traded sideways/flat for a while