The (XLE) is the Energy Select Sector SPDR Fund ETF and is very actively traded. Prices have been in a large sideways trading range for nearly a year but now they are staging an upside breakout as WTI has recovered to $60/bbl. Let's check out the charts.
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Let's dissect this oversold boost and what happens when the mega caps carry the market -- and when they don't.
The bad news is that it was more deceptive action, and we still don't know how this will unfold.