The Energy Select Sector SPDR (XLE, Financial) is closely observing significant pivot points that could signal future market movements. These pivot points, calculated using the DeMark method, have been established at a high of $82.66 and a low of $80.72.
When the stock price breaches above the pivot high of $82.66, it is typically interpreted as a bullish signal, suggesting potential upward momentum. Conversely, should the price fall below the pivot low of $80.72, it may indicate a bearish trend, highlighting possible downward pressure.
Investors are advised to monitor these pivot levels closely, as they could provide crucial insights into the stock's performance and market sentiment in the coming days.
