My system is currently giving me setup alerts to rebuy the energy sector short ETFs on a multi week basis.
That is not an IMMEDIATE call. And its not final. Its just a word of caution to energy uber bulls. One consistent with my view that this is a wave 4 bounce, not a final bottom.
Basically, inverses like SCO, DWTI, ERY are oversold but my trend metrics for them have not flipped.
Also in this set of scan results is SJB (inverse junk) and ZROZ.
I’m also seeing the same idea in URA (as sell short). FCG/GASL as well.
UNG is not in this class, but I do expect it to join but lagging by a few weeks.
I will be a VERY aggressive buyer of energy ETFs after we see the next set of lows later this winter, early spring.