‘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.

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