I will not even worry myself on this spread unless it closes above $59 on the daily. A lot of resistance here on the weekly chart. Today's price action is below the 10/20/50 ema on the daily and weekly. Spread is above the daily emails and 2 weeklies.
Doing it again..
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Unraveling spread. Here's my plan. I'll exit at break even or profitable hopefully... keeping a VERY close eye on the 100 SMA on the daily.
Alright. ON this trade, XLE is breaking out of accumulation pattern. If it retests some tomorrow, I'll buy the bounce / unravel.
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