The Dow Jones U.S. Exploration & Production Index ($DJUSOS) is 39% higher since its January low and two mid-cap stocks that are outperforming include $4 billion QEP Resources (QEP) and $2.9 billion WPX Energy (WPX). They have both been overbought recently and now have printed negative divergences, but their relative strength, along with solid SCTRs suggest they could be bought on pullbacks. Both charts are similar, so let’s focus on one example – QEP: