As oil getting close to confirm the cycle low XLE just working on the close of the opening gap.
I will be adding to my positions at 68.50 in XLE . If you don't want to miss the move you can add right now 50% of the position (68.75) and add the other half at 68.50.
At ERX you can open 50% at 30.96 and the other 50% at 30.60 if we have an exact gap close.
I was loading up with ERX.
We are in profit.
Yesterday's volume was gigantic. Almost the same as at the reversal at the beginning of 2016.
But, it, obviously, involves a risk of being left behind if Oil takes off without looking back again...