Time To Hit Pause on This Strong Sector

There’s no real urgency. [Jeff Clark's Market Minute]( Time to Hit Pause on This Strong Sector By Jeff Clark, editor, Market Minute So far, 2022 is proving to be the year of the oil stocks. The price of oil is up more than 20% over the past five weeks. At $92 per barrel, oil now trades at its highest price in over seven years… And oil stocks have been on fire! The Energy Select Sector Fund (XLE) – which holds a market basket of oil companies – is up more than 23% since the start of 2022. It’s up more than 53% over the past year. And given the supply/demand pressures in the energy sector, oil and oil stocks are likely headed even higher in the months ahead. But in the short term, they’re due for a pause. Let me explain… Recommended Link [This Millionaire Tech Expert Called the Bitcoin Crash from $67K to $35K]( [image]( Now he says the next major move in the cryptocurrency market could make fast-acting investors rich. [Click here to see what the insiders are doing with their money now.]( -- Regular readers might recall how we turned cautious on the energy sector [last October](. We weren’t outright [bearish]( – just cautious. Investor sentiment towards the energy stocks seemed too [bullish]( for our comfort level. And the Bullish Percent Index for the energy sector (BPENER) was at its highest level possible – meaning 100% of the stocks in the index were trading with positive technical patterns. It’s not mathematically possible for the BPENER to get any better than that. So we figured if it can’t get any better, then it’s probably going to get worse… and suggested waiting a bit before buying the energy stocks. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Then, XLE fell about 10% over the next two months. Today, conditions in the energy sector are similar to where they were in October. The stocks have enjoyed a marvelous rally. Investor sentiment is quite bullish and the BPENER is up at 100. So, it seems to me that now is a good time to be cautious on the energy stocks. Here’s how the energy sector performed the last few times the BPENER hit 100… [chart] [(Click here to expand image)]( In each case (blue arrows), a reading of 100 on the BPENER limited the immediate upside in the energy sector. And, it led to a pullback in the weeks that followed. [New Financial Warning [Viewer Discretion Advised]]( I suspect we’ll see something similar this time. But, there’s no real urgency to jump into the energy sector right now. We’ll likely have a better chance to put money to work in oil stocks at lower prices in the weeks ahead. Best regards and good trading, [signature] Jeff Clark Reader Mailbag Have you profited from the energy sector based on the repeated patterns? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Google’s (Now Former) CEO Secures Foreign Citizenship]( As part of a controversial “passport-for-sale” program… former Google CEO Eric Schmidt and his family have been approved to become citizens of a small island in the Mediterranean Sea. Strange, but not just strange. It’s something more. Because… The Schmidts aren’t the only ones who have done something like this. A mass “migration” appears to be underway in this country… and it doesn’t look good. Elon Musk… Barack Obama… Bill Gates… the list goes on and on. It could have devastating implications for us all – especially those of us with wealth to protect. To learn what’s going on… to learn who else is involved… to learn what it all means for you personally… [Click Here Now.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [How to Earn Free Bitcoin]( [image]( [The Gold Investor’s Guide]( [image]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2022 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](