SPDR Select Sector Fund - Energy Select Sector

Short

XLE Nasty Setup

Updated

snapshot

From a technical level, the XLE is showing a potential head and shoulders setup on a monthly chart. Combine this with major bearish divergence leaves shorting this basket of stocks as the trade of the year.

Any potential good news on the Ukraine/Russia front would be devastating on a fundamental level.

Everyone is long energy. Be brave, be bold.

Note

Correction. The Bearish Divergence appears on the weekly chart.

Trade closed: target reached

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