Trend Signal Now: Energy Stocks Hit 6-month Highs

Thursday, November 21, 2024

A new secular uptrend is beginning for Oil & Gas stocks.

It was a stand out last night during our LIVE Conference Call for Premium Members of ASC Research.

Sector Rotation is a dominating theme among equities, and you don't want to be left behind. Click here to get access to the replay of last night's video call, download all the charts and review the details for each of the trade ideas.

This is a can't miss call. Seriously. Get it here.

Take a look at the S&P Energy Sector Index hitting new 6-month highs yesterday:

And keep in mind that this strength in Energy stocks is happening despite the massive underperfomance from Crude Oil Futures.

Look at the difference. Energy stocks are hitting new highs, while the commodity itself is still down near its range lows:

The way I see it is that we really want to zoom out on this one, in order to get real perspective on where it's been.

The truth is that it hasn't really been anywhere. Energy stocks are still at the same levels they were back in 2008, just before the Great Financial Crisis.

We are talking about zero progress since then:

If you know me by now, it's quite obvious what this means to me.

"The bigger the base, the higher in space", is how I learned it from the late great Alan Shaw, and of course Louise Yamada, who has been preaching that for as long as I've known her.

The setup is here. But which Energy stocks do we want to own?

Premium Members of ASC Research get 24/7 access to all of the trade ideas, in the Energy sector or otherwise.

You can join here with a RISK FREE Trial and check it all out.

Come on in and let me know what you think!

- JC

JC Parets, CMT | Founder, All Star Charts

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