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Frequent Contributor

Energy XLE

Is that head-and-shoulder formation for XLE?   https://stockcharts.com/h-sc/ui?s=XLE&p=D&b=5&g=0&id=p78311397670

From the March low, it got above 50-dMA but missed 200-dMA and is now back under 50-dMA. CVX and XOM account for 46.15% of XLE.

Looking at SP500, the cyclical rebound story worked from March 23 low to selloff on June 11.   https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&b=5&g=0&id=p98289722206

YBB
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Frequent Contributor

Re: Energy XLE

 

Seems many stock funds have a 'head and shoulders' technical pattern, AND are sitting on or penetrating down through their 200 day Moving Averages Lines.  Bearish implications.

R48

 

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