Don't Ignore This Chart!

Energy-related ETFs Hit Historical Extremes


By most metrics, the energy related ETFs have hit oversold extremes with big declines over the last 31 days. The Oil & Gas Equip & Services SPDR (XES) is down around 25%, the Oil & Gas E&P SPDR (XOP) is down almost 30% and the FirstTrust Natural Gas ETF (FCG) is down around 34%. Note that 14-day RSI for FCG and XES is below 10, while 14-day RSI for XOP is below 15. These RSI readings are the lowest since the ETFs began trading, which was in 2006 and 2007. 

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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 market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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