ModelEdge report

Dean Christians

3-16-2023 at 12:47 pm

Market breadth indicators for the energy sector flash a warning sign

New lows in the energy sector are expanding, and other market breadth indicators have deteriorated meaningfully. After similar conditions, energy sector returns were unfavorable over the next two to three months. With most energy stocks transitioning to long-term downtrends, the sector could be in the penalty box until further notice.

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