ucsgears

XLE - Interesting Trendlines Confluences.

AMEX:XLE   ENERGY SELECT SECTOR SPDR FUND
This is interesting, Explains the recent chops in the Market and Energy stocks .

If this so called bottom in oil             any good, then we should see some improvement in this sector, along with this HUGE sector, the market will get better.

Apart from this chart - DIA             - Broke out. MDY             - Broke out. The next is SPY             ? we shall see.

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as a note to fellow traders, At any given point in time, you should know where the Sectors are. This should drive your trading decisions. Not a news article, that says, "oh Oil             is at the bottom, buy them"
ucsgears PRO
2 years ago
Expect more volatility here, due to these intersection of two directional trendlines.
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ucsgears PRO
2 years ago
How many of you believed me, when I posted this?
3, That's awesome.

Now watch out the XLY, Discretionary sector, which typically gets more money when oil is cheap. Is now starting to follow XRT - retail sector.

I cannot stress this, Know where the Major sectors are, and what they are doing wrt SPX.

Need help to simplify your sector analysis and save some valueable time, let me know. I can give you a few links to know where they are.....
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