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jkish19871

XLE Nasty Setup

Short
SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
jkish19871 Updated   
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Trend Analysis Chart Patterns Technical Indicators Technical Analysis head_and_shoulder Divergence xleshort XLE
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trendanalysis chartpattern indicator technicalanalysis head_and_shoulder divergence xleshort xle
snapshot
From a technical level, the XLE is showing a potential head and shoulders setup on a monthly chart. Combine this with major bearish divergence leaves shorting this basket of stocks as the trade of the year.

Any potential good news on the Ukraine/Russia front would be devastating on a fundamental level.


Everyone is long energy. Be brave, be bold. XLE
Comment:
Correction. The Bearish Divergence appears on the weekly chart.
Trade closed: target reached

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