Trend Following: Energy Edition

JC Parets
April 9, 2024

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):

Notice how much green is on this table.

If the cell is green then the stock is above its respective moving average. If it's red, then the stocks is below it.

Do you see much red? Or is it mostly green?

This table above is pointing to the most important energy stocks in the world being currently in short-term uptrends, intermediate-term uptrends and long-term uptrends.

Check out what we're seeing in the index itself and my personal favorite way to profit from this trend.

Click here for all the details.

JC

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