[Unlocked] Last Week's Spotlight Chart on XLE

A Major Breadth Thrust in the Energy Sector

[Originally sent to paid subscribers on January 5th]

Zweig Breadth Thrust in Energy Sector

The energy sector has a Zweig Breadth Thrust, a bullish development in the breadth data. This results in the advance and decline data going from very low levels to very a high level in a short period of time. Believed to suggest a strong surge in buying interest of the underlying holdings of an index or sector. The last time XLE had a Zweig Thrust was in September of last year, in which it fell -3.9% after the signal but then rallied nearly 14% to a high in November. The blue lines on the chart below show the prior thrusts in XLE since 2014. Most prior occurrences saw price rally at least in the following couple of weeks, if not the following months.

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