XLE

Nice looking IHS there on weekly. I'm long

 

Why would an industry index of energy stocks follow technical analysis? Wouldn't the individual stocks that make up the index be more relevant to TA?

 

It has been in the band (~50 to ~100) for many years and it is now at the top of the band.

 

In my view, the same reason that TA can be used on the S and P

 

I'll take a look

 

An index shows the sum of all of the patterns combined

 

XLE hasn't done much since after the initial Ukraine invasion. If you want total return the real action is at the midstream level especially with the high growth MLPs like TRGP WMB KNTK DTM etc.

The best ETF I found for these is the MLPX. 4% dividend & a trailing 1 year return of 40%. Its pretty volatile especially the high flyers like Targa Resources (TRGP) so buy it on a sell off. I think today at the bottom Targa was down almost 8%.

 

Same here. Long term play. Holding up well today with market down 2.5%. We are down from initial entry at the moment.

 

Nice looking IHS today on Daily chart. Staying long