The Relative Rotation Graph above shows the rotation of the various members of the S&P Energy sector against XLE as a benchmark.
As usual, there are some good and some not so good names found on the plot. Inside the weakening quadrant, NFX and SWN are heading for the lagging quadrant. Already inside this lagging quadrant, we find OXY and COG showing less favorable tails, suggesting a further move into negative territory.
On the positive side, we find TSO and FTI, still inside the improving quadrant but, close to crossing over into leading.
Already inside leading, APA, NOV, and APC seem positioned for (further) outperformance of XLE in coming weeks.
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