Don't Ignore This Chart

Oil & Gas Equipment/Services SPDR Surges to 52-week High

Arthur Hill | 
Oil related stocks remain red hot as the Oil & Gas Equipment/Services SPDR (XES) surged over 2% on Thursday and exceeded its 2012 high. The uptrend just gets steeper as the advance accelerated the last five weeks. XES is overbought like the rest of the market, but showing no signs of weakness as it outperforms oil.

130214xes
Click this image for a live chart
Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London.
Subscribe to Don't Ignore This Chart to be notified whenever a new post is added to this blog!
comments powered by Disqus