20160918 - Chart Surfing - Strictly Technical...

Chart Surfing 20160918 XLY is going through a MACD crossover.   Downside risk ~12 to 50%.  Uncertain Reward... Similarly, XLV is maintaining altitude despite declining momentum XLI is show an attempt to break long but the volume is declining, not favorable.  Similar 12-50% Risk and uncertain Reward. XLE - Energy has cleanly rebounded off support and into the Low volume area with 2008-2015 resistance overhead.   Naturally, holders would love to see prices return to that level but will need to look at the cost of Oil & Gas… Finance…  Price seems to be where it needs to be, at turn of the century levels. Technology - Move XLK to my buy “just because” list: LMT - I’ve been holding since $17 but need to move this onto my daily watch list.   Presently testing a trend line and a recent HVA bottom. CHK - Move into Due Diligence List Out of curiosity….   PSX... Word is that Warren Buffet is now holding 15% of this company. Technically, I've no idea why. Worth a fundamental followup...