Earlier today we discussed the NYSE Oil Index breaking out to new all-time highs.
I really like this Index because, since it’s NYSE-based, it includes energy stocks from all over the world.
As long as it trades on the NYSE, who cares if it’s TOTAL in France, or Petrabras in Brazil?
These are the most important Oil stocks in the world and the index is hitting new all-time highs.
Here are all the stocks in the index relative to a variety of moving averages (getting longer-term moving from left to right on this chart below): [Read more…]