Market Recap for Wednesday, May 10, 2017
The energy sector (XLE, +1.32%) was very strong on Wednesday as crude oil ($WTIC) bounced more than 3%. With crude oil up nicely again this morning, we should see more strength and leadership from the XLE today. Technology (XLK, +0.38%) and financials (XLF, +0.34%). Leading technology was the semiconductor space, which powered forward to yet another breakout. While nothing seems to slow this industry group, just be aware of a nasty negative divergence present on its weekly chart. Check it out: