During my regular stock chart analysis I noticed that Energy sector could be forming important top. There is possible to find something like head and shoulders stock chart pattern. This is bearish sign.

There are also negative bearish candlesticks on weekly chart during last 5 weeks or so.

I think we can expect significant correction in this sector. I prepared ETF stock trade setup with Inverse Ultra Short ETF for Energy sector - DUG - for such case.

This entry was posted on Wednesday, July 2nd, 2008 at 9:56 am and is filed under ETF analysis, ETF trade setup. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.