It looks as if Energy turned a corner.
We discussed on Sunday how XLE has been caught in the grip of a punishing daily downtrend. On Monday XLE closed above the declining trend line to signal that day 10 hosted an early DCL. Shorten daily cycles are more likely to occur at the tail end of an extended sell off due to exhaustion of bears. And that is what appears to be happening with XLE.
Another bullish signal occurred with the BPENER. Monday the BPENER delivered bullish follow through to last week’s close above the 50 day MA.
In my Special Energy Update that I posted on Sunday I take look at the energy sector and discuss 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.