by Gary S. Morrow | Jun 2, 2021 | Chart of the Day
Shares of Valero Energy Corp. are trading at new ’21 highs today. The stock is up just over 2% as it extends Tuesday’s trend line breakout. The energy sector has been on fire of late and it now appears VLO is heading higher as well. We expect more...
by Gary S. Morrow | Apr 14, 2021 | Chart of the Day, Commentary
The energy sector is back on track today. The top 20 gainers in the S&P 500 Index is dominated by energy. The sector in general has been in pullback mode since peaking in early March. At last week’s lows the XLE(SPDRs Select Sector Energy ETF) had dropped...
by Gary S. Morrow | Jul 2, 2019 | Market Update
Heavy resistance(50/200D moving averages) has capped the last two weekly highs. USO held the 40W moving average at last week’s low, will it hold this week’s low? We are long USO in some managed accounts.
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...
