CPI comes in hotter than consensus.
IWM slaughtered / QQQ under pressure / SPY closes negative.
Yields & Dollar ripping.
Oil ripping / Natural Gas selloff.
Are we entering a new reflation trend?
I'm very confident that for long term real money investors (or long time horizon long/short) a switch/rotation now from tech stonks into oils will pay off massively over the next 1 to 2 years (100% relative basis)
It's been a long correction for the energy sector but if we see a breakout here it might lend weight to my argument that XLE has indeed started a 5th wave according to EW theory.
I know this monthly candle stick isn't finished, so this will be an important week for the energy sector. This is crazy, so back in 2008 we made a high at 91.36 right. Then we had a false breakout in 2014. It failed to breakout in 2022, 2023, so is this the year for XLE to finally breakout from this level? We have an ascending triangle forming as well. What's...
#energy AMEX:XLE follows through higher, keeps reversing on the monthly, quarterly target 92.56 (4.8% higher) for the outside candle to complete.
#TheStrat
👀
... for a 85.43 debit.
Comments: Looking to attempt to grab the March dividend, which has been averaging around .80 over the past four distributions.
Metrics:
Buying Power Effect/Break Even/Cost Basis in Shares: 85.43
Max Profit: 2.57 ($257)
ROC at Max (ex. dividend): 3.01%
ROC at Max (w/dividend): 3.94% (assuming an .80 distribution)
ROC at 50% Max (ex....
Momentum is extremely strong that has already broken above previous high in RSI. It will make an all time high. Seasonality also favors energy into June. Meanwhile, DXY is beginning its wave 3, which will make energy and metals fly.
XLE and oil stocks have been consolidating since 2022 and has finished the 3-wave correction and is moving out of this long term base. Oil futures also has bottomed. Another confirmation is that all these instruments are holding above the moving averages.
Very confident in this idea. Liquidity was hit, nice pattern on the weekly, bought at support with confirmation. I would wish for nothing more on a setup other than what XLE has provided me with
If you look at my profile I have been steadily predicting XLE. This is another idea that I am posting publicly for you guys to profit from. It should be taken into consideration how the Markets will open on Monday. If they open normally without a crazy gap this trade should be executed, otherwise my idea is canceled. Anyway, I will update this idea on Monday for...
Looks like energy stocks that are coming back. Just in time when technology stocks are about to correct. I just opened positions on SLB and XOM, but there are others like CVX, EOG or XLE index that works the same way. These stocks are correlated with oil price that also appears to start turning around.
XLE came down into, touched and wicked the weekly close
of the week 12/04/2023 yesterday.
I did not have an alert set so I missed the first opportunity.
It wicked it on the daily chart.
So this morning around 10 I saw it was near the lows of yesterday again.
and the 2 weekly levels around 81 also held price in mid Dec 2023.
I sold the 80 Put strike at 3 wide down...
Not all breakout lines are created equal!
A chart trader must understand the implications of details such as its length and angle.
Time frame needs to also be weighed in.
A scientific process where proper odds can be established on the anticipated possible outcomes.
#energy
