I am expecting XLE to contest 95 Q2 2019. With the weekly flag and early signs of push beginning I expect this sector to continue to strengthen and be a much stronger pick next year.
New Bullish Credit Spread on XLE . Expecting to see a push for $75.59 resistance by EoW. Entry 75.11. Break Even 74.73. 1:1 r/r
Alternative energy was a major industry during the Obama years, as his admin's attack on oil sent these alt plays soaring. There's several different types, from pure electric vehicles running on batteries (powered by energy produced burning fossil fuels, no less) to natural gas engines, nuclear and wind options, and in this case, hydrogen fuel cells. It's...
The energy sector has been performing badly over recent months, but not as bad as basic materials sector. Specifically leading the problem in the energy sector are oil & gas drilling, oil & gas exploration and production, oil & gas refining and marketing, oil-related service and equipment, renewable energy equipment & services, and uranium industries. These...
Short Strangle, 20 delta (68/75 strikes), 37 'DTE, $1.07 credit
Are financials rolling over? The financial sector ETF XLF, and regional bank ETF KRE are moving back down to their 12 month lows. The cause is likely lower interest rate hike expectations and government yields. Caution ahead for September's weak season.
$USO $XLE #Oil #trading These custom support resistance indicator lines show decent places to enter or exit. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long. If your instrument closes below the Red line, we think about Shorting. For Stocks, I prefer to use the Yellow line as my...
A few sectors are signaling troubles ahead, with their 50 day MA's crossing below their 200 day MA's. This chart picture shows SPY (upper left) as a broad gauge of market action. It has yet to experience the "death cross." However, the industrial stocks measured by XLI (upper right), materials stocks measured by XLB, and financial stocks measured by XLF have...
Oil has been one of the best performing comodities this year , we have only been going up and for the first time , we have taken out multiple swing lows. Price is also at a very dated but solid trend line and at first sight , its screaming BUY. Unfortunately , all I see is bears pushing even harder. This is a place where price has to make a decision. XLE will also...
XLE and WTI demonstrate high level of correlation i.e. move in same direction. XLE provides stock-ETF alternative for traders who do not trade WTI. Interesting to note that WTI has outperformed XLE since Q4 2017 while the latter was capped at a 2-year high printed in December 2016. Bullish view of WTI and XLE in previous piece I was looking for swing long WTI...
CVE is looking to start a new set of impulse waves that could close the triangle bottom formation and breakout.
With this quarter's earnings pretty much in the rear view mirror, there isn't much single name to play here, particularly since we start right back up again with earnings around the July monthly. Consequently, if you're going to play single name, you may get caught in a volatility expansion running into earnings, so if you absolutely can't resist the urge to pay...
The SPY (SPX) is giving some mixed messages from various indicators. While the general feel seems to be a grind higher, it's important to note that we have stayed under the 61.8% retracement of the correction even after several attempts to push thru. Also, not depicted on this chart, but we failed to maintain the 100 day s.m.a. (I'll try to add that chart in the...
Hey fellow traders, I am traveling for both personal and business over the next two weeks and will not be posted as frequently as usual. If you haven't been following me you have missed a number of accurate predictions in the last few weeks such as the AUDUSD bullish breakout, JPYUSD bull trap, SP500 breakout, Gold price pop, Macy's bullish price explosion and a...
Breakout scenario in XLE Consolidation range now should act as support
Time for some mean reversion play. COP is the sore thumb sticking out amongst the oil plays with the stock making new highs post Feb crash. With results coming up and WTI completing its own 3-Drive formation as the pipes out of the Permian get clogged, it would be a good idea to put on some downside directional trade on COP. Given the out performance vs. the...