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Stock Market & Financial Investment News

News Breaks
August 15, 2014
08:45 EDTXLEEnergy Select Sector SPDR: Pivot points
The following are the pivot points for XLE. Pivot High: $96.080, Pivot Low: $95.095. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
News For XLE From The Last 14 Days
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February 10, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 9, 2016
13:10 EDTXLEEnergy Select Sector SPDR volatility elevated as WTI trades below $29
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08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 8, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 5, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 4, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 3, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 2, 2016
09:41 EDTXLEEnergy Select Sector SPDR tumbles as crude continues lower
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08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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February 1, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
The following are the pivot points for XLE. Pivot High: $59.130, Pivot Low: $57.350. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
08:40 EDTXLEEnergy Select Sector SPDR falls on weak crude pricing
In the pre-market the ETF is down over 1.5% to $57.31 as crude drops sharply in price on fading hopes of an OPEC-lead cut in production. At current price next support is at $56.46. Resistance is at $58.21, the prior session closing price.
January 29, 2016
12:41 EDTXLEOn The Fly: Weekly technical notes for S&P 500
The S&P 500 index traded within a much narrower range in the past week, and appears at time of writing to be set to close near the highs of the week above 1916. That is somewhat remarkable given the relatively high number of blow-ups in major names. Much of the gain is due to the better performance of Energy (XLE), Consumer Staples (XLP), and Utilities (XLU) over the week and the relative stabilization of other sectors to at least not subtract from those advances. We should note that these are typically the sectors that are risk-averse and that their leadership may not be bullish overall. The key concern now is, "can energy continue to outperform?" Many would likely welcome a break in the correlation between crude and the index, but that isn't likely to go away. A breakdown next week in crude could undo most of the gains we've seen as well as potentially induce another round of selling from oil-dependent sovereigns. A perceived positive that the bulls received overnight was the extreme action taken by the Bank of Japan to set a negative interest rate policy in a bid to stimulate the economy and lower its currency further. Many have taken this action as a confirmation along with weak GDP data that the U.S. Fed is likely not to raise rates for the entire year. A chorus of "ZeroB4One", that the Fed will relent and ease along with the rest of the world, is buoying bullish sentiment. While on balance in the near-term this looks favorable, there is plenty that can go wrong. Notably, although GDP was weak, regional data reports appear to be improving. The economy continuing to strengthen, which ought to provide the best hope for higher stock prices, may be the enemy of the bulls from a perceived policy perspective. Bad news used to be good news, but it's possible that good news could become bad news. That oxymoron is our context heading into next week as earnings season winds down by February 10. On a technical basis a key factor to watch is the continuing decline in price in the ProShares Short High Yield (SJB) ETF. It worked well this week as an indicator that was bullish, falling in price, through the entire week even while index prices searched for a floor that at times seemed much lower. The 1-month chart for the S&P 500 (SPX) itself shows the start of a rounding bottom, and possibly a somewhat irregular bullish head and shoulders pattern. The next important level up for both factors would be at the 1934 area. For support, the 1895 area looks to be the level that has to hold.
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
The following are the pivot points for XLE. Pivot High: $56.875, Pivot Low: $55.115. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
January 28, 2016
09:26 EDTXLEEnergy Select Sector SPDR rallies sharply in pre-market
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08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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January 27, 2016
08:46 EDTXLEEnergy Select Sector SPDR: Pivot points
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