NFTRH+; This sector attempts to break out

The Energy sector ETF is attempting to take the SMA 50 and the neckline to a pattern today. If this is successful a healthy RSI and positively diverging MACD could guide XLE to reestablishing its uptrend. It held the major uptrend at the SMA 200 and taking out the SMA 50 could reestablish the shorter-term uptrend as well. I am going to watch XLE and … Continue reading NFTRH+; This sector attempts to break out

A Lack of Energy

That is what this reflation has, a lack of participation from the Energy patch. Daily XLE is trending down by both of its key moving averages. It is curling below the SMA 50 and it’s cooked if it loses 34. Weekly XLE is a classically bearish chart, having bounced to strong long-term resistance before dropping anew. Monthly XLE shows more clearly how heavy that resistance … Continue reading A Lack of Energy

A Sector Ripe for Shorting? Not so Fast…

This is a time when charts are working well for bullish outcomes but for bearish ones? Not so much. Exhibit A is one in the remote work/communications patch, which was a favorite theme of mine during and coming out of the crash. More recently I was watching PLAN as a potential short per the red shaded zone. It looked disgusting, actually. I decided to leave … Continue reading A Sector Ripe for Shorting? Not so Fast…

NFTRH eats its own cooking with Energy [w/ edits]

With reference to the vigorous bounce in the Energy sector (plus 7% today after yesterday’s rise)… NFTRH had this to say in an impromptu Energy segment over the weekend in NFTRH 597. Eating my own cooking, I have positions in XLE, CVX and XOM. [edit] Profit taken on XOM, w/ XLE & CVX still held. [edit 2] and CVX makes two, given stock market’s increasing … Continue reading NFTRH eats its own cooking with Energy [w/ edits]

nftrh plus

NFTRH+; Daily XLE @ Target (public)

There is a bigger picture situation, the bottom of which we caught right on.  That would be per this monthly chart at the green long-term support line to the channel bottom of a still intact secular bull market. However, per this update (now public) we also noted that the daily chart target (for traders) is 64-65.  Doink, XLE is there, dwelling a hair away from … Continue reading NFTRH+; Daily XLE @ Target (public)

nftrh plus

NFTRH+; Energy Sector Short and Long-term Views Updated

Updating the short and long-term views of XLE and sending to the entire list as it is a sector of interest to so many economies and markets and thus, of macro concern.

XLE Daily broke above the key resistance level yesterday and assuming we have a weekly close above it tomorrow, that is now support.  Indeed, it is tentative support now but I kept it red to play devil’s advocate.  A reasonable measurement from the pattern is 64-65.  That is for the traders among us.

Continue reading “NFTRH+; Energy Sector Short and Long-term Views Updated”

nftrh plus

NFTRH+; Energy Sector Future Buy Level (Reminder)

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)

alice, nftrh

NFTRH Update; Gold Stocks, Energy, S&P 500, Emerging Markets & USD

I want to update the charts from the last two updates (GDX, XLE and SPX) and also have some words about the markets overall. GDX hit the first resistance level today.  This is a point for profit takers to take at least some of their profits, for would-be buyers not to chase, for hedgers to hedge, etc.  All the while, this is still technically a … Continue reading NFTRH Update; Gold Stocks, Energy, S&P 500, Emerging Markets & USD