The video in this report is only accessible to members
The video in this report is only accessible to members
The video in this report is only accessible to members

The rally continues and given Tuesday’s ability to close near highs of the session, while DeMark indicators remain early (by 3-4 days) it looks likely that indices push a bit higher over the next few days before any stalling out.  The QQQ daily chart below highlights the recent breakout, and Tuesday’s ability to climb over the 50% retracement area of the high to low range.  Near-term targets lie at 363.42, the 50% retracement of the decline from November.  While not immediately expected, targets above would come in near 374.

The video in this report is only accessible to members

Former Energy laggard Groups like Oil Services, Drilling now playing catch-up

Interestingly enough, despite WTI Crude having pushed up to the highest levels since 2008, certain groups have not really participated.  Field Services is certainly one that comes to mind with stocks like Schlumberger still 65% off all-time highs, and Oil Drilling is another.

That now looks to be changing, and stocks within the Drillers and Oil Services groups are just starting to break out of lengthy long-term downtrend lines that make these names appealing to start to play catchup after a lengthy period of underperformance.  Most of these names aren’t nearly as overbou...

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