Low Sentiment But Improving Internals For The Energy Sector
Portfolio Pulse from Thrasher Analytics
The Energy Select Sector SPDR Fund (NYSE:XLE) has seen a rise in breadth thrusts due to improving performance of individual energy stocks, despite low sentiment. Historically, this has been bullish for energy. There have been three major advances in XLE since 2012 with this setup.
July 18, 2023 | 4:16 pm
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XLE has seen a rise in breadth thrusts due to improving performance of individual energy stocks, despite low sentiment. This has been historically bullish for energy.
The rise in breadth thrusts for XLE indicates an improving performance of individual energy stocks. Despite the low sentiment, this has been historically bullish for the energy sector, suggesting a potential positive impact on XLE's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100