Don't Ignore This Chart!: Oil & Gas Equipment/Services SPDR Surges to 52-week High

Don't Ignore This Chart!

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Oil & Gas Equipment/Services SPDR Surges to 52-week High

February 14, 2013 at 12:21 PM | written by Arthur Hill

Oil related stocks remain red hot as the Oil & Gas Equipment/Services SPDR (XES) surged over 2% on Thursday and exceeded its 2012 high. The uptrend just gets steeper as the advance accelerated the last five weeks. XES is overbought like the rest of the market, but showing no signs of weakness as it outperforms oil.