Energy smackdown
Dean noticed an unusual situation in energy stocks with Thursday's selling pressure. No stocks in the sector managed to hold above their short-term 10-day moving averages, while more than 95% of them were still trading above their long-term 200-day moving averages. This never happened from 1952 - 1979, but has triggered a dozen times since then. There was a strong tendency to see a rebound in the months ahead. Only the 1980 instance preceded a peak, with the overall average 1-year return being an impressive +27.6%.

