This video takes a comprehensive look at the diversified U.S. stock indices as well as many key sectors of the U.S. market. These index & sector ETFs are discussed in the following order: SPY, QQQ, IWM, XLF, USO, XLE, XOP, XES, XLV, XBI, IBB, PBE, XRT, XLP, XLU & GDX.
Here are 6 reasons why it appears the energy stocks (via XES in this example) are still headed lower in the coming weeks. I remain longer-term bullish but near & intermediate-term bearish on the energy sector at this time including crude oil, XLE, XOP & XES. XES daily June 13th This chart is also a [...]
I'm seeing a mixed bag of bullish and bearish charts when viewing the broad markets and key sectors from a longer-term perspective. For now, my longer-term bias remains bearish but I did want to point out some of the recent bullish technical developments as well as some of more bearish charts as well. I put [...]
also another recent stop-out if anyone took the XES breakout. seems to be a common theme lately... all these recent breakout on non-confirming volume that have been failing one after another lately. previous and updated chart below. this trade might still offer a decent short entry here but not as objective at this point as [...]
currently prices are right at the neckline on the possible XES IHS pattern recently posted. however, please read the notes from that original post here before taking the trade. here's the chart from that post as well as today's updated chart.
XES is possibly just putting the finishing touches on an inverse head & shoulders pattern with a somewhat extended right shoulder although i'm not a big fan of IHS and H&S patterns when used as continuation patterns vs. topping or bottoming patterns. head & shoulders/IHS's are one of the most easily recognized, and hence, most [...]