by Gary S. Morrow | Aug 31, 2019 | Charts, Commentary
Energy has been the worst performing sector for 5 of the last 6 years. The ratio of the S&P 500 Index versus the XLE(SPDRs Select Sector Energy ETF) has reached a 19-year low. Something’s got to give. Hat tip Charlie Bilello
by Gary S. Morrow | Jul 21, 2019 | Market Update
Last week the ratio of energy stocks(XLE) to the S&P 500 Index(SPY) reached a 19 year low. No position in XLE. Long SPY in some managed accounts. Hat tip Charlie Bilello
by Gary S. Morrow | Jun 26, 2019 | Market Update
COP is having its best day of the year. COP is surging over 5% today following an upgrade(Mizuho goes to ‘buy’). This powerful move is driving the stock to new June highs as the rebound off the June lows stretches to 10%. COP is setting up well for more...
by Gary S. Morrow | Jun 26, 2019 | Market Update
The OIH(VanEck Oil Services ETF reaches new June highs. The OIH is trading at new June highs today. The index is up over 3% as it extends the rebound off the May/June lows to 13%. Major support near $13.00 is shaping up as a double bottom. This area marks the December...
by Gary S. Morrow | May 31, 2019 | Chart of the Day, Charts
Crude($USO) is heading for its second straight weekly loss of over 6%, the two worst weeks of 2019. The USO will also finish out this week below the declining 40 week moving average, the first weekly close below this MAV since March 15th. Needless to say, overhead...
