FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

***XOI & oil prices, on the flip side, we are seeing the XOI failing to confirm the record highs in oil here, and while the bull move throughout February and early March may have foretold of record oil prices and probably puts into concrete that high energy prices are here to stay, I wouldn't at all be surprised to see a panic sell-off some time in the future in both oil and the oil stocks... given the current technicals of the XOI and even oil!

The XOI is looking as if it wants to target 800... and clearly oil is overbought here...

Note: I still see $69/barrel for oil this year, maybe even higher, but at the same time, a severe pullback could be warranted at a stage in which the market is too bullish...