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Energy Names (XOP) Turns Up Strongly In Aftermath of the Trump "Upset"

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) hit a near-term corrective low at 34.13, and this morning, in reaction to perceived stronger, less-regulated Trump energy policies, the price structure has thrust back above its up-sloping 200-Day EMA, now at 35.69, into what my pattern and momentum work indicates is the initiation of a new upleg-- that should quickly climb to retest 16-month resistance at 38.50-39.50.

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