Monday, August 26, 2013

Energy Sector Breakout

Take a look at this chart of the Energy Select Sector SPDR ...

Updated chart

The XLE has a repeating pattern -- a breakout, followed by a ramp-up, followed by a consolidation, then a move up to test that consolidation as overhead resistance. We've just seen the breakout now. This gives us a target of 102 on the XLE. Do your own due diligence.

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