But what about the other alternative energy equities?
Solar stocks have been amongst the most hated in the entire market, right up there with pot stocks and China.
The Invesco Solar ETF $TAN looks ready to explode higher:
The fund is a market-cap-weighted basket of solar stocks from all around the world.
One of our favorite long-term momentum indicators, the monthly percentage price oscillator (PPO), has been improving for months and is on the verge of triggering a buy signal.
In addition, TAN has carved out a short term reversal pattern. An upside resolution will coincide with a monthly PPO cross, and we want to look for opportunities to buy the best stocks in the industry.
On a relative basis, TAN is at a critical level of interest versus the S&P 500:
This level represents where it began to outperform the broader market in the past.
