VanEck Oil Services ETF

  • OIH

  • $276

  • -0.73%

  • $278

  • $279

  • $275

Ticker Appearances

Daily Technical Strategy
Mon, October 7, 2024 | 7:22PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Crude, FXI, Utilities & Treasury yields all getting close to resistance

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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Wed, October 2, 2024 | 11:03AM ET

⚡ FlashInsights

Wed, October 2, 2024 | 11:03AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Lot of investors wondering if C N/A% rude is bottoming, and i do NOT feel this is the case technically, though i can make the case for another 2-4 days of gains back up to 73.45-74.50 before this peaks and goes back to the lows. Structurally this remains bearish, Elliott patterns suggest a good likelihood of $50 oil, DeMark exhaustion is not in place and cycles remain bearish until Summer 2025. Thus, while a short-term bounce is certainly underway for Energy as a sector as Geopolitical risk has elevated, i don't suspect this will prove long-lasting. Technically speaking, bounces would be used to Trim/take profits/hedge Energy as of early next week. (CL -0.69% _F) OIH -0.73%  XLE -0.58%
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Daily Technical Strategy
Tue, September 3, 2024 | 7:18PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Materials sector being lowered to Neutral given commodity weakness

THE POST-HOLIDAY SELLING IN US EQUITIES DURING THIS SHORTENED WEEK SEEMED TO CATCH MANY INVESTORS OFF-GUARD, AS VIX AND JAPANESE YEN SPIKED TO MULTI-DAY HIGHS...

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Tue, September 3, 2024 | 10:55AM ET

⚡ FlashInsights

Tue, September 3, 2024 | 10:55AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Front month Crude futures are dropping sharply, lower by nearly 3% to the lowest since early January 2024, and it's thought that the feeble recovery in China is also stoking fears about low demand for Crude. WTI Crude could find temporary support in the mid-60s but i fully expect a possible drop to 50 or below into 2025. OIH -0.73%  has violated support and both XLE and XOP are quite weak this morning. Equal-weighted Energy is on the verge of breaking intermediate-term support vs Equal-weighted S&P 500 which has held since 2022. Overall Energy is a technical Underweight, and i expect additional weakness
Tickers

Daily Technical Strategy
Fri, July 19, 2024 | 5:34PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

US stock indices likely reach technical support by early next week

Due to technical difficulties, there is no video for today’s report. US EQUITY INDICES HAVE NOW SOLD OFF FOR FIVE OF THE LAST SEVEN TRADING...

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Daily Technical Strategy
Mon, June 3, 2024 | 8:07PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Energy deterioration warrants technical downgrade to Neutral

STOCKS SHOULD BE BOTTOMING AS JUNE GETS UNDERWAY.   US TREASURY YIELDS AND THE US DOLLAR BOTH SHOULD BE ON THE VERGE OF TURNING DOWN MORE...

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