Tuesday Sept 19 2017
Bullish Percent
This is a perfect set up for entry in the energy sector. The percent of energy shares in bullish position is rising, a close over 50% well be confirmation. At bottom the PMO generates a buy signal.
XES Energy Service
GLD
As also forecast last weekend, Gold is pulling back, this should result in a nice set up entry point for a trade lasting into 2018.
I suspect the XES is the better percentage play than the XLE or XOP. The nine month chart confirms we are just getting our buy signal here.
Caution, we are in a seasonally weak time period, Sept-Oct for the entire stock market, which has just hit new highs again. Some stock market buy signals have also been generated but others I read are warning of correction.
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