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MarketMotion

XLE - Short Term Bearish

Short
SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
MarketMotion  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Trend Analysis Chart Patterns XLE
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trendanalysis chartpattern xle
Overbought on the daily and reaching top of both daily and weekly channels. Not to mention printing one ugly bearish weekly candle. Looking for a pullback towards $51-$52 area but will need some market weakness to happen. 54.50 - 54.80 support will need to be broken as well and where I plan to reduce 50% of my short position from Friday.
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