{"id":64,"date":"2008-07-16T22:41:44","date_gmt":"2008-07-17T02:41:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=64"},"modified":"2008-08-09T10:43:16","modified_gmt":"2008-08-09T14:43:16","slug":"xle-levels","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/xle-levels","title":{"rendered":"XLE Levels"},"content":{"rendered":"

The past two trading days there has been tremendous price action in XLE, crude,\u00a0and related equities.\u00a0 I am not an expert on energy but I do know that 80 and now 77\u00a0are very important levels for XLE.\u00a0 Below 80 and 77\u00a0and you should look for weakness in the energy stocks.\u00a0 Above 80 and 77\u00a0and you should look for strength.\u00a0<\/p>\n

Below is a two day chart of XLE and you can see it move aggressively below and above that 80 level.\u00a0 80 is the more\u00a0important level in the XLE.\u00a0 But\u00a0you ought to have an alert set for these levels.\u00a0 And a few corresponding stocks ready to trade above and below 80 and 77: CHK, HK, VLO, XOM, etc.\u00a0 These stocks tend to correlate with XLE (VLO inversely).\u00a0\u00a0 Also,\u00a0watch the price of the barrel contemporaneously as an indicator for these corresponding stocks.<\/p>\n

xlechart.gif<\/a><\/p>\n

Tomorrow we will use those levels in XLE to gain an advantage trading energy securities.\u00a0 Good luck with your trading!<\/p>\n","protected":false},"excerpt":{"rendered":"

The past two trading days there has been tremendous price action in XLE, crude,\u00a0and related equities.\u00a0 I am not an expert on energy but I do know that 80 and now 77\u00a0are very important levels for XLE.\u00a0 Below 80 and 77\u00a0and you should look for weakness in the energy stocks.\u00a0 Above 80 and 77\u00a0and you should look for strength.\u00a0 Below … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[4676,30,18,60],"class_list":["post-64","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","tag-xle","no-post-thumbnail"],"yoast_head":"\nXLE Levels | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/xle-levels\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XLE Levels | SMB Training\" \/>\n<meta property=\"og:description\" content=\"The past two trading days there has been tremendous price action in XLE, crude,\u00a0and related equities.\u00a0 I am not an expert on energy but I do know that 80 and now 77\u00a0are very important levels for XLE.\u00a0 Below 80 and 77\u00a0and you should look for weakness in the energy stocks.\u00a0 Above 80 and 77\u00a0and you should look for strength.\u00a0 Below ... 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