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As I have stated previously, this is not a normal holiday weekend. Supposedly, when we return to the trading world on Tuesday, there will be some resolution (or more chaos) regarding the debt ceiling. In the meantime, I have gathered together different families of ETFs for review, and I have stated my remarks below each graph.

Although not energy per se, the DBC fund is dominated by crude oil. We can see how, for many months, the DBC has been ‘leaking away” from its broken channel.

Oil specifically has been hammering out a tremendous right triangle top, although it is not complete yet.

The energy sector caused slight damage to its blue supporting trendline. Another crack at this would set the sector sailing lower.

My only energy ETF position is puts in XOP, which I acquired on Thursday. These have respected their descending resistance line, and a break of the dashed green line would put the bow on a beautiful topping pattern.

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