Random Thought: Energy stocks will break down soon
My logic?
We're basically putting in a negative divergence. Crude oil has made new highs or essentially stabilized around those highs, yet most energy and alternative energy plays have not.
Take a look at the drubbing solar stocks have been taking over the last few weeks. They are basically energy related plays.
Other alternative energy plays have began to break down as well. Wind stocks come to mind and of course, look at the coal stocks getting killed today.
Speaking of Coal stocks. As far as the daily charts go, these look like the 2 most promising short patterns.
Here's ACI (Box/Rectangle Pattern) & MEE (Double Top).
I have no position on either of these just yet, but will be looking for some type of a low volume kick back.
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