This one was a beauty...

A few weeks back we showed you the bullish percent index from energy stocks within the S&P500. Our accompanying note was that more than likely a bottom was in the making. Yes, I hear one say, but all the shares went higher in the mean time.
However - this one was right on the mark

This index displays the percentage of oil stocks trading with bullish technical patterns. Oil stocks are overbought whenever the chart rises above 70, and the sector is oversold when the chart drops below 10.

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