Monday, May 16, 2016 11:00 PM EDT
Our proprietary energy cycle indicator turned down this week from the divergence as noted previously.
OIH (VanEck Vectors Oil Services ETF) is now on a sell signal.
XLE (Energy Select Sector SPDR Fund) is also on a sell signal.
XEG:TSX (iShares S&P/TSX Capped Energy Index ETF) also triggered a sell signal this week.
Summary
The energy sector cycle is now down, with sell signals in the ETFs. A multi-week correction is now in progress.
Disclosure: 1) The following company ...
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Disclosure: 1) The following company mentioned in the article is a sponsor of Streetwise Reports: Pan Orient Energy Corp. The following company mentioned in the article is a billboard advertiser of Streetwise Reports: Cub Energy Inc. The companies mentioned in this article were not involved in any aspect of the interview preparation or post-interview editing so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
2) Chen Lin: I own, or my family owns, shares of the following companies mentioned in this article: Pan Orient Energy, Cub Energy and Canacol. I personally am, or my family is, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. I was not paid by Streetwise Reports for participating in this article. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the article based on my research, understanding of the sector and interview theme. I had the opportunity to review the article for accuracy as of the date of the article and am responsible for the content of the article.
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