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Energy stocks have been consolidating as major companies report earnings. Now they could be back in focus with inflation still rising and the economy reopening.
The most important feature on the SPDR Energy ETF’s chart is price zone around $56. It was a crucial support area in January 2020 before XLE crashed to a generational low. It was also a peak in June, but the fund has remained above it the last five weeks.
Next, prices have shown new support at…
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Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than four-fifths of the index's members advanced,...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...