The RSI has just started its climb and the MACD has just started its climb. Wow. Look at that. Today there was even a small gap up showing extreame strength. All the energy ETFs are pretty much working out the same way...lets check out our other one, XLE
As you can see, pretty much the same thing. Almost the entire sector just bottomed out and now its coming back hard. Once again the RSI and the MACD are in the start positions for growth (underbought and oversold) and things are going to go from here.
The market pretty much moves in waves, like waves on the beach. Where we are with energy right now is the wave has started its flow back up the beach after a while of flowing back out.
By the way, fill up your tanks at the gas station. Prices are going to drop a bit more, but oil is going to stabilize, so dont think we are going to fall below 2 dollars a gallon at the pump.
No need for more pics for today, we just hit two home runs. And we are going to continue to hold these two #stocks for say, about a week, then Ill probably sell the #options.
More later tonight or tommorrow as things come up,
Mark
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