Oil Slips Lower as Electric Utilities Power Up

[Spotlight] Daily Video Newsletter Thursday, June 13, 2024 TONIGHT at 7 PM: Blake’s NEW Retirement Watchlist Is Live He’s already added even more tickers to the list of stocks and assets every retirement saver needs to know about. Blake Young will go live at 7 PM to talk about the deep currents affecting gold, stocks, and more, and show you how to use all of them to build a secure nest egg. [We’re in the final minutes so click here to claim your free spot…]( ================================================ [Oil Slips Lower as Electric Utilities Power Up]( By Blake Young I’m putting the finishing touches on tonight’s live retirement presentation, but there are moves underway in the markets we need to talk about right now… The big indexes are juuust slightly off their recent all-time highs, but of course, not all stocks are doing equally well. My attention is on the energy sector right now, as tracked by the Energy Select Sector SPDR ETF, XLE. It’s down close to 1.5% over the five days, and the zoomed-in chart I’ll share with you in a moment, you’ll see we actually broke through a multi-month low. It hardly crashed through, and it soon recovered, but it did break support. We’ll look at the likelihood of a bearish trend taking hold here. Crude oil itself is experiencing lower highs and lower lows. It also broke through support but when it bounced back, it failed to punch through resistance. As you might know, utilities stocks tend to work in inverse correlation to energy. As energy costs drop, their profit margins widen. The sector-tracking Utilities Select Sector SPDR, XLU, is up over the past five sessions - this is significant, and we’ll talk about it. [So let’s take a look at the tickers in play in tonight’s video…]( Don’t Miss Blake’s New Presentation Tonight Blake “Deep Currents” Young is going live in a matter of minutes, at 7 PM Eastern. He’s going to show everyone in the free presentation how they can potentially beat the S&P 500 and secure the kind of retirement only money - and lots of it - can buy. Click here - there are a few free spaces available. [But do it quickly because this starts at 7 PM sharp…](=) ================================================ This Grand Slam-Winning Pro Can Teach Us a Lot About Trading Tennis legend Roger Federer gave the commencement address at Dartmouth earlier this week… and it was dynamite. I want to share part of his speech with you because I think it has some important lessons that can make us all better investors. When it comes to being great at anything, be it tennis or trading, the importance of the mental component can’t be overstated. There’s a big difference between simply going through the motions and actively trading “in the zone.” The last thing you want to be is a trader that responds to every headline and price swing in the market. 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