There is no doubt that the tape is feeling heavier since last week's sell-off. One of the sectors that is feeling particularly heavy is the energy sector. I always feel that partticularly for ETFs that nowadays get thrown around as if they are an individual stock, it is particularly important to be aware of at least the top 5 or 10 holdings. Here are the top holdings for the XLE energy sector etf.
The top 10 holdings of the XLE
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ExxonMobil Corporation (XOM): 16.78%
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Chevron Corporation (CVX): 13.13%
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Schlumberger, Ltd. (SLB): 7.90%
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ConocoPhillips (COP): 5.03%
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Occidental Petroleum Corporation (OXY): 4.42%
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Apache Corporation (APA): 3.44%
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Halliburton Company (HAL): 3.25%
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Anadarko Petroleum Corp. (APC): 2.82%
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Devon Energy Corporation (DVN): 2.70%
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Marathon Oil Corporation (MRO): 2.65%
The Chart?
Well, for starters there is a fairly obvious head and shoulders pattern in place that has a target of around $65 if it plays out perfectly. Second, notice the steadily declining RSI indicator below the volume on the chart. There is also divergence between the S&P500 and thr XLE over the past couple of months..i.e the XLE did not make new 2011 highs two weeks ago.
