Rotations and Texas Tea

Everything still appears to be in free fall and intraday rally attempts end up getting sold. The “rotation” has been moving to energy and oil service it seems.

Note the inverse head and shoulder pattern on $XLE


$OIH has also put in a 10% move off the lows.


One names I like a lot is $PBR. As you can see below, the stock ha broken out of its downtrend (notice the great volume). MACD also turned up last week.  Ideally an entry around $12 would be more desirable, but it may not give you a chance.

The 200 day moving average is just above, and note the gap fill up at the 15.80 level.


Good luck next week.

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