There were some bullish developments in the Energy Sector last week.
After lengthy sell offs NATGAS, Oil, and Uranium all confirmed new daily cycles last week.
And the Energy Sector Bullish Percent Index closed above the declining 50 day MA.
However there is still a question if XLE has printed its daily cycle low.
XLE has been caught in the grip of a punishing daily downtrend. But bullish signals are beginning to emerge.
XLE formed a swing low off the 6/21 low and closed above the bearish trend line. Along with the huge TSI bullish divergence indicates that 6/21 hosted an early DCL. I would like to see a close above the declining 50 day MA confirm the new daily cycle.
In my Special Energy Update I will take a closer look at the energy sector. We will look at the weekly charts for NATGAS, Oil, Uranium and XLE as well as the yearly chart for XLE.
Perhaps you would like to integrate cycle analysis into your trading. This week I am offering a special 4th of July Trial Subscription. The trial subscription includes the Special Energy Update as well as 6 weeks of Likesmoney Subscription Services for $15.
The 6 week trial subscription includes:
* The Special Energy Update
* The Weekend Report
* The Mid-Week Update
and I also post what I call my Weekend Updates.
The Weekend Updates cover:
* The FAS Buy/Sell Indicator
* The Bullish Percentage BINGO
The ideal time to buy is at a cycle low.
* There are 4 cycle lows that I cover:
– The daily cycle low
– The intermediate (weekly) cycle low
– The yearly cycle low
– the multi-year cycle low
My goal is to develop an on-going framework of expectations using cycle analysis.
So please click here for the Special Energy Update & 6 week trial subscription.