OIH - Oil Services HOLDRs Stall at 200 Day Moving Average

I sold shares short in SWN - Southwestern Energy Co., and OIH - Oil Services HOLDRs, as the OIH has stalled at it’s 200 daily moving average on the daily chart.

It looks like there’s a double top there, with the 2nd bar a lower high. Today formed a tweezer top with yesterday’s candlestick. The nice ugly red candlestick today means there’s some resistance to fight through first before stocks in the oil sector are going any higher.

Look out below if OIH loses it’s trend line support, which is right about where the 20 day moving average (yellow) sits.