ENERGY STOCKS BREAKOUT?
The energy stocks are trying to break out of their two and a half month consolidation, and through a major resistance level. This could mean that the daily cycle decline in oil has been aborted early and the rest of the drop into the intermediate cycle low has been terminated.
If oil has finished its correction and energy stocks are ready to resume their rally, it will add even more momentum to the stock market.
Like our new Facebook page to stay current on all things Smart Money Tracker