xlecreatesbullishwickat supportoct23


The past 90 days have not been kind to Crude Oil or Energy Stocks. Energy ETF XLE is down 15% in the past 90 days, talking about a big punch in the face!

This decline took XLE back to rising support off the 2010 lows and created a large bullish wick at this support line. The decline has also driven momentum to oversold levels seldom seen in the past few years.

Full Disclosure – Premium members picked up XLE last week when the S&P was creating bullish wicks. At the same time TLT created a monster bearish wick. See massive reversal wicks that took place a week ago today (see here) 

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past