Look at the volume in OIH. We’re already past 2x avg. volume, and it’s only three hours after the opening bell. The OIH – Oil Services Holdr is now trading over 10 points away from it’s 20 day moving average. Volume is higher than the turn in January, when the holdr was trading over 10 points below the 20 day moving average. It doesn’t indicate that the sector can’t go higher, but I wouldn’t be shocked if this becomes a major pivot point.
Still watching DUG for a reversal.
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