XLE: Breaking Critical Resistance

Fundamental Backdrop:
- Weakening growth/momentum; strengthening value
- Rising Inflation
- Beaten down energy names; oversaddled with debt (debt is good with inflation)

Technical:
- MACD building up cause and growing
- Relative out performance
- Approaching resistance with strength; with potential break yesterday

Adding here with tight stops

Comment:

Another consolidation completed, with strong relative strength performance, good place to add to position