an tSionna {03.13.12}-Energy

One are of divergence to note though is that energy stocks as represented here by the Energy Select Spyder {XLE} have rolled over.  By our work they have now taken out their trendline from last fall and have now started cascading into a series of lower highs and lower lows.   Our money flow work indicates that these are a source of funds right now as well.  We'll have to see if this turns around.  Perhaps today is the day as the market is set to have a strong open today.

We'll continue to monitor this.

*Long certain energy ETFs in client accounts.