Below is a list of names for those charts we feel are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week. Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices. Each group is listed by sector affiliation. Please feel free to contact the author for further details.
Bullish Reversals
Energy: Carrizo Oil & Gas (CRZO) , PDC Energy (PDCE) , Rowan Companies (RDC)
The market doesn't always behave according to its historical norm but the timing of this oil rally and the extent to which it has become overbought going into the seasonal peak is something to be aware of.
What OPEC and markets are not set up for is pure demand destruction.
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