…to bring you an announcement that energy stocks are outperforming.
Just as with the industrials that I pointed out last evening, you can see on the weekly timeframe for the XLE, energy sector ETF, that the prospect of resolution from this massive symmetrical triangle looms large. Unlike previous times when price has been in the upper-$70′s over the past few years, this time the move seems to be stealth, with not many calling for an imminent upside breakout. Moreover, the past few weeks feature a tight bull flag forming.
We are watching quite a few individual energy stocks inside 12631 to see if the XLE can break above $77/$78.