XEG is represents the capped energy index of TSX and SPX companies, so its not exactly a true representation for SPY/DIA looking the way it does. But, you get the general Idea.- investors are flocking to other sectors and dividend paying stocks.
Im bullish energy sector as i think is undervalued and forgotten for most of 2013, but i think ive missed much of the recent bullish move. I'm still long term Bullish, but we could use a pull back here. Maybe the 18.50 ish is level would be a good long entry. If tomorrow XEG sells off from here then SPY/DIA will not look as bullish anymore, at least in the short term.
Im bullish energy sector as i think is undervalued and forgotten for most of 2013, but i think ive missed much of the recent bullish move. I'm still long term Bullish, but we could use a pull back here. Maybe the 18.50 ish is level would be a good long entry. If tomorrow XEG sells off from here then SPY/DIA will not look as bullish anymore, at least in the short term.
