What John Howell said in this video:
- GLDbearishlong-termThe host believes gold (GLD) has exhausted its energy after a two-year rally and will enter a one- to two-year time phase of correction or consolidation, with GLD potentially falling to 300; long term he remains bullish but requires energy rebuilding first.Source
- XLEbullishlong-termThe host is very bullish on XLE (Energy Select Sector SPDR Fund), noting that after three years of sideways energy building it broke out this year, marking the start of a brand new bull phase and making energy the new leader.Source
- USObullishmid-termThe host believes USO (United States Oil Fund) has broken out after about four years of sideways energy building, and based on his system, oil is set for a major move higher.Source
- CVXbullishmid-termThe host notes that CVX (Chevron) broke out from a long sideways base, ran from around 150 to 210, pulled back, and is now getting ready to move higher again.Source
- XOMbullishmid-termThe host notes that XOM (Exxon Mobil) broke out after three years of sideways energy building on the monthly chart, moving from 111 to 178, and based on his system still has upside momentum.Source
- SPYbearishshort-termThe host believes the S&P 500 (SPY) is running out of energy after a long rally, is experiencing a false breakout, and the market is possibly getting ready for a correction lower.Source