Sunday, March 13, 2011

Energy ETF chart analysis


The daily chart of the Energy Select Sector SPDR (the "Energy ETF") clearly shows the end of the uptrend of energy stocks.  Next move? Probably a consolidation in the next few weeks.

Interesting to see what the chart of the opposite ETF says. In this case, we are speaking about the ProShares UltraShort Oil & Gas (ticker: DUG on NYSE): you make profits when oil & gas equities drop.

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