Ratio Chart:ETF XLE /S&P 500.
(Investing.com) - When it comes to sectors that have stunk it up over the past decade, Energy exchange traded fund (ETF) wins the award.
This chart looks at the Energy ETF (XLE) / S&P 500 ratio on a monthly basis over the past 17 years. The ratio has been creating lower highs and lower lows since the highs in 2008.
Three months ago, the ratio hit its 2.61% Fibonacci extension level at (1). While hitting the lows it looks to have created a “Doji Star” reversal pattern.
The ratio has rallied since then and it is attempting to break above falling resistance at (2), as momentum is deeply oversold and looks to be creating higher lows at (3).
If the ratio is successful in breaking out at (2), this very out of favor sector would suggest it should provide positive relative returns to the S&P 500 for a while.
Reprinted from Investing.com. The copyright is reserved by the original author.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
古いコメントはありません。ソファをつかむ最初のものになりましょう。