From Sizzle to Fizzle

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One sector I’ve been persistently bearish about has been energy. This finally starting kicking in nicely a week ago, as crude oil broken its uptrend.

slopechart USO

More specifically, my XLE put options are doing well. The next step is as failure of the trendline shown below.

slopechart XLE

There are an abundance of individual energy stocks that have massive topping patterns. One of my favorites, PTEN, has been slipping under its horizontal resistance steadily.

slopechart PTEN