The Lack of Full Dollar moves in Oil is surprising me. could be Eye of the Storm. Hmmm What do I say about Important resistance lines..... Takes 3 tests to go through.... I guess this is "One"(Again that red line is the Cyclical trend.
I have talked about how energy needs to go through the "Valuations are Good" Stage in the decline. We saw Some Fear today.
I still say it will probably move sideways while most the market rallies... and then could decline. on it's second leg down.
Let's review our sector rotation chart....... HMMM I don't see very well..... Where is energy?
Must be different this time...... Cause Tech is going to save us(I'm kidding here)..... or not.
Wednesday, August 6, 2008
xle Energy
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