XLE Rallies After Trade Set-Up

On Thursday this week, Mike added the Energy Select Sector SPDR Fund (XLE) as a trade set-up at 67.07, and the ETF got as high as 68.75 on Friday before closing at 68.03.

In early October, Mike's intermediate-term SPY Sectors technical program triggered Preliminary and Advanced buy signals in XLE to be executed into forthcoming weakness.

The XLE on Friday had a positive price reaction to XOM's pre-open earnings announcement as well as news that The Baker Hughes Rig Count registered another weekly decline in the number of producing wells.

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