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Constructive technical setup.
Short term, very overbought, however, over the medium term, the consolidation points to a group that is not overextended.
The SPDR® S&P® Oil & Gas Exploration & Production ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P® Oil & Gas Exploration & Production Select Industry® Index (the “Index”).
Seeks to provide exposure the oil and gas exploration and production segment of the S&P TMI, which comprises the following sub-industries: Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing.
Seeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocks.
Allows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing.
Lester Davids
Analyst: Unum Capital
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