Consider this a contrarian signal if you like, but the white flag you see being waved is me surrendering to the energy bulls. I just can’t take this kind of thing anymore from XLE…….
And crude oil seems to do nothing but go up (which, in the end, will be just peachy for the world economy, since it’s like a huge tax that flows to oil producers):
I’d rather focus on more obvious topping patterns like IEFA, thank you very much.
