XLE Rallies After Trade Set-Up
by Mike Paulenoff
October 30, 2015 • 7:16 PM EDT
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.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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