Daily Report : Oil and energy funds suffer record adverse actions; Underlying momentum has turned negative

  • Jason Goepfert

    Jason Goepfert

    Published: 2020-04-22 at 21:31:50 CDT

Exchange-traded products focused on energy companies or crude oil have had a horrid month. Now, fund companies are scrambling to adjust, either undertaking reverse splits or even outright delistings of the funds from major exchanges. This has been a minor contrary indicator in the past.; The average sector is now showing a negative McClellan Oscillator. This comes soon after most sectors showed extremely high positive momentum. The first negative momentum reading following a very positive one has tended to lead to well above-average longer-term returns.

This post is available to SentimenTrader members only.

Log into your account

To view this blog post, you'll need to log into your SentimenTrader account.

Login to your account

Don't have an account?

Sign up to get RISK-FREE access to all of our indicators, models, commentary and award-winning research.

If you've never tried the service before, there is no charge for the first 30 days. Then pay as little as $1.59 per trading day for access to our award-winning research.