WTI and XLE are correlated. Unless WTI is wrong, higher 52-week highs point to XLE breakout when chart is shouting continuation patterns.
STI down 4.65% both M-M and Q-Q. June 2018, 1 stock posted gain, 1 remain unchanged, 28 losers. EEM and Capitaland make prominent down moves.
Bullish and bearish views of XLE-WTI positive correlation. In the bullish view, I see WTI long continuation, XLE Cup and Handle chance to do breakout catch up with underperformance.
May 2018, Straits Times Index was down 185.75 points or 5.14% over end of April. Out of 30 constituent stocks, 22 end in the red. ComfortDelgro and Genting Singapore are gain leaders. Triple Top reversal pattern hinted in STI chart.
2 overlays, 8 charts of EURUSD, AUDUSD, NZDUSD, USDJPY, USDCNH, GBPUSD. Discussion of relative strength between major currencies, rotational play as well as their trend, major support and resistance zones.
Performance of 30 STI component stocks for April 2018. Straits Times Index was up 185.96 points or 5.42% over end of March. Out of 30 constituent stocks, 19 gained while 11 end in the red.
Is it time for some energy-driven inflation? Will an energy sector recovery become new driver of bull market to relieve FANG stocks? WTI has broken decisively above 3-year high, XLE is at decade long support, there is a bullish expansion over March and XLE is 5-day best performer among S&P500 sectors.