Energy stocks are brutally beaten up today. So where to next? In our update last week titled, "Where Are Energy Stocks Headed Now?" We wrote the following: What happened this week in energy stocks is a classic blow-off technical pattern. Sudden and large reversals like this usually signal a trend shift in the medium-term (3-4 months). As a result, while fundamentals might be trending bullish, we are likely headed lower/sideways for a while on energy stocks. During this time period, please do not be frustrated at the lack of price participation in energy stocks in relation to oil. It's not supposed to make sense, so don't try to make sense out of it.
Energy Stocks Take A Brutal Hit, Where To Next?
Energy Stocks Take A Brutal Hit, Where To…
Energy Stocks Take A Brutal Hit, Where To Next?
Energy stocks are brutally beaten up today. So where to next? In our update last week titled, "Where Are Energy Stocks Headed Now?" We wrote the following: What happened this week in energy stocks is a classic blow-off technical pattern. Sudden and large reversals like this usually signal a trend shift in the medium-term (3-4 months). As a result, while fundamentals might be trending bullish, we are likely headed lower/sideways for a while on energy stocks. During this time period, please do not be frustrated at the lack of price participation in energy stocks in relation to oil. It's not supposed to make sense, so don't try to make sense out of it.