Murphy Oil (MUR) just flashed a death cross.
MUR broke its December swing lows while XLE is currently testing their. This is showing weak relative strength.
A bearish scenario to keep an eye on for the December swing lows turn into a major resistance area.
If this happens then the October lows will become a target area.
MUR is a .91% component in XLE.
The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.