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AMLP Has the Right Look of a Capitulation Low in the MLP Space


Below is what we discussed yesterday. Alerian MLP ETF (AMLP) is green now, after plunging slightly beneath my next, lower-target zone of 9.95-9.75, to a new low at 9.54 prior to reversing strongly on huge volume.

As of this moment, AMLP has the right set up for a key, upside reversal on giant volume, which is a sign of capitulation followed by a "buy-vacuum."

Let's see if AMLP can close green for the session. MJP 12/08/15

The vertical plunge in AMLP continues towards a next potential support zone at 10.00-9.95, with allowance for a 2% "under-shoot" of the 9.95 lower boundary line, points to an optimal next target zone of 9.95 to 9.75.

In that oil is in free fall, and approaching tax-loss selling season, this certainly feels like a capitulation.

But where and when does it end? MJP 12/07/15

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