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.


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