Energy jumping 6 spots with crude’s sell off is probably significant. Sector rankings are pretty much in-line with expectations.

Market: XLE (Energy ETF)

Reason for observation: Relative strength

Short-term bias: Bullish

Long-term bias: Neutral

Even with crude oil sell off, Energy stocks were up on the week. That relative strength is worth noting. No real clear chart setup however.

Market: XLK (Technology ETF)

Reason for observation: Daily bull flag trigger

Short-term bias: Bullish

Long-term bias: Bullish

Tech stocks first sector to return to previous swing high and make new all time closing highs. That is not bearish.

While sectors like industrials and materials have been trading in-line with the general market, observe the sharp contrast when compared to technology stocks outperformance.

Another new high made in the consumer discretionary/consumer staples spread. This is also not bearish.