Video Energy Sector XLE Falters at 50
WTI futures were -3% lower overnight due to weak manufacturing data from China and the US. Although price action on the ETF XLE may be the better play for bears.
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![[Video] Energy Sector (XLE) Falters at $50 (WTI, TSLA)](/-/media/Research/Global/News Analysis/Featured Image/2021/03/Energy5)
In today’s video we revise our analysis on Tesla (TSLA) after it finally broke above $700 resistance. We then look at WTI futures and highlight today’s pivotal level, then finish up on SPDR Select energy sector ETF (XLU) as we suspect a swing high has formed.
S&P 500: Market Internals
S&P 500: 4387.16 (-0.18%), 02 August 2021
- Utilities (0.74%) was the strongest sector and Materials (-1.17%) was the weakest
- 4 out of the 11 S&P 500 sectors closed higher
- 5 out of the 11 sectors outperformed the S&P 500
- 7 out of the 11 sectors traded lower on the S&P 500
- 212 (41.98%) stocks advanced and 291 (57.62%) declined
- 85.35% of stocks closed above their 200-day average
- 61.19% of stocks closed above their 50-day average
- 59.8% of stocks closed above their 20-day average
Outperformers:
- + 6.58% - DXC Technology Co (DXC.N)
- + 4.55% - Fortinet Inc (FTNT.OQ)
- + 3.94% - Ralph Lauren Corp (RL.N)
Underperformers:
- -11.2% - Global Payments Inc (GPN.N)
- -6.66% - Fidelity National Information Services Inc (FIS.N)
- -4.66% - Fiserv Inc (FISV.OQ)
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