It might be about time for Energy to start making some moves. It's been well documented that the energy sector, specifically XLE, has been underperforming the rest of the stock market for two solid years. But I think that enough pressure has built up during this recent consolidation that we can expect a major move in energy on a relative basis.
Take a look at this chart below. It shows Energy represented by the XLE compared to the S&P500 SPY. This 4-month wedge formation has an upper trendline following closely along the 50 & 200 day moving averages (blue & red dotted lines):
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Click to view a price quote on XLE. Click to research the Financial Services industry.
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