‘Last inflated man standing’ needs a crutch

The Energy sector cracks hard

Technically, it is still a major uptrend (by the rising SMA 200). Functionally, it looks like hell. Oil, Gas and the Energy complex were the last inflated men standing, as I’ve been noting for months now. A lower low in XLE would seal the deal.

Federal Reserve: winning, duh… *

* Not really. They are the ultimate Wrong Way Corrigans. But insofar as they are trying to clean up their own mess, winning… and then some. What a mess.

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.