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SPDR Select Sector Fund - Energy Select Sector

XLE breaking down from Ascending Channel - global slowdown?

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XLE just broke down from its ascending channel, which might be signalling that the market is pricing in a global slowdown.

XLE also broke down from an ascending channel in '08 and '14. In the case of 2008, SPX crashed. But in 2014, SPX traded sideways/flat for a while
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Ascending ChannelChart PatternsEnergy CommoditiesTechnical IndicatorsQQQsandp500SPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisXLE

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Ascending ChannelChart PatternsEnergy CommoditiesTechnical IndicatorsQQQsandp500SPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend AnalysisXLE
Huntz

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.