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XLE

Daily Commentary

XLE Energy Gaps through Key Support

Bycjrosen April 20, 2009

The Energy ETF (XLE) has lagged the broader market, and now it has gapped down through all major support on its daily chart, which could be a bearish omen of things to come.  Let’s take a closer look. Notice that the XLE failed to break above its February high like some other ETFs did (like…

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Daily Commentary | Market Education

Wachovia Tests New Lows

Bycjrosen May 29, 2008

Let’s do a quick check on Wachovia Bank and the XLF Financial Index to see what interesting development has happened this week. First, Wachovia’s (WB) weekly structure chart: Price made a new intra-week low this week, testing just below $24 per share, but it did so on a developing positive momentum divergence (not drawn).  The…

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