XLE energy sector is underperforming the market in the last 3 months
a look in the long term chart reveals a steady uptrend starting in mid 2012
then in feb 2014 price become more assertive and didn't have a "real" correction
fib retracement show support at 94$ and price action today may suggest that the correction is at its end
crossing the dashed black line will...
Widest spread in 5 years in XLE versus Crude Oil (Cl1!-front month)-
Use this wide spread to leg into positions and set your sights on a big reversion in this wide spread.
Tim
9/2/2014 2:40PM EST
The S&P 500 made a low of 1904.78 on August 7, and has basically gone straight up since that day. If you look at the chart, it has formed a perfect "V" and is looking to challenge its all time high of 1991.39. The Nasdaq has definitely lead the charge higher, crossing the 4500 mark for the first time in 14 years! While the markets have moved higher, I notice that...
hello all,
while scanning the broader market I recently stumbled upon the energy sector's ETF (XLE) and the message I got was startling to say the least. Energy itself has been on quite a run of late but it appears as though that rally may have run out of steam. Indeed, the Double top registered through late July looks rather solid and support levels look a long...
Confluence of CD=1.618 AB, 2.24 BC extension and 1.618 leg of the Deep Crab pattern all converge in a tight area between 95.62 and 101.40.
In addition to this they converge to the logical number 100.00. Hence a pull back, not a reversal, sounds like a tempting trading idea.
Stop Loss order: 103.00
Entry: 97.45
Target Profit : 75.00
Energy and oil stocks act better than broad market. Money rotates in this sector. $WFT $BHI $HAL $XOM and others are on their highs.
Nice flagging near highs in this ETF and it looks poised to make a move higher with well defined stop below $93.
Energy has been on a breakout for a month now. It might be about to dry up based on MM to 94.84 on H&S bottom. I entered on 89, will be putting tight stop in at 94 if/when it breaks 94. Watching to see if it forms bull flag after that
XLE Energy
XOI Index has broken out relative the S&P 500 from the
beginning of April. Testing the brakeout.
Preferred Rotation Sector with Oil staying elevated.
Pattern-wise the current pullback is corrective, which
in the bigger picture is still very constructive, using any weakness to add.
MACD bullish.
Support : 87
targets: 92, 95
The energy patch broke out of its
long trading range yesterday and is
now breaking out. I missed this breakout
entry point and will be looking for a pullback
for entry
Friends,
On February 02nd, we cautioned traders about a potential new historical high to 93.08 using this WEEKLY chart.
Since then, a bullish pinbar sent price to a current weekly high of about 84.75, corresponding to a 2-month old structural resistance of a Shark. For the astute, advanced pattern trader, one should expect the current rally to stall at 50% of...
XLE's streak of five consecutive losing weeks came to an end this week with a .79% gain and an equally important "hammer". The hammer candle in the attached chart is a potential bullish reversal candle that requires confirmation. As a coincident indicator we use the "overbought/oversold" Williams %R indicator. An overbought condition is bullish for the ETF and...
