SELECT SECTOR SPDR ENERGY SECTOR ETF - XLE
Monthly chart shows continued strength to the upside, with no sell signal/pattern evident on this timeframe. 
Weekly chart shows consolidation/trading range. 
Daily chart better shows the consolidation/trading range. Consolidation pattern suggests a breakout eventually to higher high. The last leg move up has been made with regular divergence, and so would expect a bigger correction once a higher high has been made. It is more difficult to find a good entry to go long, at this point.
Sunday, June 29, 2008
Energy Sector Update for 06.29.2008
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