XLE LONG prediction · chartguys · Miss

We did break resistance, but it's a double top at this point. Memory, same thing. So memory, the most likely scenario for me is the daily lower high and then a daily higher low and then a break probably two weeks from now to give us the next piece of information. So uh my thesis is looking like it's going to be more correct in memory than in SMH. SMDK significant relative strength to MU on Thursday. Um, but bears have to prove a little bit more here to set the lower highs and have us form that sideways range. And then you can be watching for rotation elsewhere in memory. I'm not zoomed into small cap memory names that could potentially benefit from rotation, but again, that'd be something I'd be watching for if that is your forte. But broader market, bulls in full control. Uh, bears have to confirm the hourly rising wedge on the NASDAQ. They have to negate the potential cup and handle because that's going to be on the table depending on what the consolidation looks like, whether it's a 12-h hour bull flag or not.

Channel

chartguys

Prediction date

2026-05-23

Horizon

2026-08-23

Instrument

XLE · LONG

Verdict

Miss

Outcome

<strong>Miss:</strong> <span class="num red">P/L -2685.0%</span> · <span class="num red">vs SPY -2954.0%</span>

Source: Source · 37:38 ↗