While a bit premature, a tactical long position in VDE with a tight stop makes sense. IF Energy is making a lower-intensity higher-low then it may turn around these levels. Stop is tight because the ST downtrend has not been broken yet. Risk/Reward is compelling.
Pulled backed logically from red resistance. Nothing is concerning at this point. We will what it brings next week. 10 MA, RSI and MACD all healthy. Will be concerned if pink line and 10 MA gets taken out.
Financial media began to talk about market bottom, and recent Fed comment is dovish. Energy stock has been hit among the hardest and sit on support line right now. Can it turn around soon? No idea yet but deserve close attention.