There is a gap ahead on XLE though. Last stop before a double-top or new all-time highs.
Housing Starts vs Completions Looks Ominous for the Economy
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Housing completions have surpassed housing starts. History suggests bad
things follow. But what's happening this time?
Looks like a gap fill for sure & likely double top. some serious energy bulls like Erik Townsend expect a break up! Their reasoning should be considered at least IMO.
ReplyDeleteIt's why I've almost never had energy as my to short position this year. If energy goes up, most everything else will eventually be going down.
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