CLICK ON CHART TO ENLARGE
Oil stocks have not followed the recent rally in Crude Oil! If Crude turns south up here against resistance, Oil stocks could get fall very hard!!!
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CLICK ON CHART TO ENLARGE
Oil stocks have not followed the recent rally in Crude Oil! If Crude turns south up here against resistance, Oil stocks could get fall very hard!!!
CVX has a .75 correlation to CL perpetual over the last 4 quarters with the other top three weightings topping out at .65 or less in weighting order, so you could probably just watch CVX for now and call it a day. I used my NDR database for the matrix.
Steve….XLE is not an exact match, yet close. Any other ideas from the viewership.
Great calls lately, thanks for the insight into your technical views on the market. I was looking for something that tracks XOI but can’t seem to find it. Is there a way other than individually doing OXY, APC, CVX, etc.. that I am missing? Thanks again for your blog, it is great work.