The Oil & Gas Exploration ETF (XOP) is leading the Energy ETF (XLE) to the downside Oil & Gas exploration is leading the broad Energy sector to the downside. While nominal XOP is still intact to its major daily chart trend, it has been hanging like a rotting fruit below its 200 day moving average for all of December in what looks like a bear … Continue reading If the XOP/XLE ratio means anything…
The Energy sector ETF is still in consolidation And I am still short the “last inflated man standing”. That could be for as long as it takes XLE to bust to the upside <sad face> or, if it does as it ‘should’, drop out of the Diamond to at least support at 83, if not lower <glad face>. For “best of breed” top down analysis … Continue reading Energy sector ETF (XLE) Diamond consolidation unresolved
The Energy sector ETF (XLE) continues a would-be topping situation Why yes, I got clowned a little last week as I was compelled by my personal psych profile and risk management to take a much smaller profit on Energy short ERY than had I done it a day earlier when I made this post. But on Friday per the trade log… Well, I shorted the … Continue reading Updating the “last inflated man standing”
The Energy sector is vulnerable from technical and macro fundamental perspectives Technically, the Energy sector (XLE) is overbought by its distance from the daily SMA 50. RSI and MACD are starting to look like a potential roll over. But most importantly, the Energy sector is intact and trending up! It’s a bull market, after all. However, with momentum weakening and the ongoing NFTRH view that … Continue reading Energy sector is vulnerable
It’s been a tough market to interpret on the daily moves with some things making sense, and to me at least, others not making so much sense in the short-term. But then again, sense is made over the longer-term and confusion is often made in the short-term. Anyway, one thing we got right was the Energy sector as it made an initial impulsive move off … Continue reading Energy Sector
Normally I would not micro manage a fledgling trend line break like this, but I know a lot of subscribers are interested in the Energy sector, so here it is. XLE broke above the SMA 50 (blue) yesterday on volume, and is trying to break the channel’s top trend line today, after dropping in-day to test the SMA 50. The first resistance area is shaded. … Continue reading NFTRH; Energy Sector
With the way I have felt post-flu, simpler is probably better since I have been incapable of complex thought processes. So going with that theme, it does not get much simpler than this view of SPX breaking the short-term downtrend channel per the chart we used in a previous update to show the then-intact channel. I covered my SPY short this morning, taking a loss. … Continue reading NFTRH; US Stocks, Energy & Gold Sector
I am not recommending people chase the Energy sector now because it has bounced vigorously since Monday’s down day, when I bought it, and when subscribers could have considered buying it. The reason I bought it is outlined in this segment from NFTRH 440, which followed our regular, more broad-based US Stock Market segment. This is just a bounce at this point and should the … Continue reading Energy Sector, From NFTRH 440
The tout is that we NFTRH+‘d the energy sector months in advance of the bottom as a ‘look-ahead’ to a big buying opportunity. Here is the updated chart from that original update. The bottom projection was at 55 to 60 (secular bull channel bottom) with possibility to 50 (long-term lateral support in the event of a quick down spike and reversal) added shortly after. The … Continue reading A Lot of Energy in These Markets
In pre-market there was some hype surrounding the Doha ‘failure’ to fix prices in oil. Failure? That’s a victory for the free market and it turns out, those of us letting the chart of XLE tell the story on the Energy sector. We projected and caught the bottom in the Energy Sector long before anyone else that I know of, anyway. Here is just one … Continue reading A Reversal w/ a Lot of Energy
Here is XLE today, very bearish and at key support. Energy sector bulls are watching closely on the short-term. I am not. That is because we still have the unresolved monthly chart target from a couple updates last year. Generally, that is per the secular bull market channel and lateral support converging at roughly 53 to 56. Of course, at 58.56 currently, ‘risk vs. reward’ … Continue reading NFTRH+; Energy Sector Future Buy Level (Reminder)
On Tuesday we reviewed the constructive looks of gold stocks (GDX), energy (XLE) and the US stock market (SPX) by daily charts. In NFTRH 363 we noted that GDX had broken a trend line and was a good bounce candidate, but ‘bounce’ is all we can call it technically. An update after Monday’s continued upside noted support levels of 14.71 (Sept. high), 14.36 (EMA 50, … Continue reading NFTRH Update; GDX, XLE and SPX Status (daily charts updated)
For all you Energy sector sports fans out there, here is XOM near a big picture channel bottom by monthly chart. Unfortunately, Exxon Mobile has already Ex-div’d in August, but those bullish on energy (and I know you are out there) can consider ETF’s like XLE, which div’s quarterly. Also, there is the constellation of Canadian dividend paying energy companies like ERF, etc., which pay … Continue reading NFTRH+; Energy Sector, Big Picture Setup
