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Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

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Keep These Stocks On Your Radar As Oil Rebounds

The rebound rally in the crude oil at the start of the week not only helped the futures market, but it also helped drive the Dow Jones Industrial Average and S&P 500 Index into fresh all-time highs. With oil at its highest level since the week-ending December 4, it seems like a good time to revisit the S&P Energy Select SPDR ETF (XLE) and Exxon Mobil Corporation (XOM).

The last time I covered these two equity markets was the week-ending February 25. At that time, crude oil was building its support base and the stock market had just reached its low for the year.

At that time, I wrote the following:

“We have a few interesting divergences developing between oil-related stocks and crude oil prices. This may mean that investors are realizing that the oil companies may have reached key value areas, and that they are finally getting a grasp on the impact of lower crude oil prices on their company’s bottom-line.”

“In these cases, you can see that the stocks or the ETF did not follow crude oil prices lower during its current sell-off. This could be a sign that buyers are coming in to support these equities or that the selling pressure is subsiding. I can’t identify a buy signal yet but the price action suggests that the XLE (S&P Energy Select Sector SPDR Fund), XOM (Exxon Mobil) and CVX (Chevron Corporation) should be on your investment radar. “

Since that time, improving fundamentals in the oil market and…

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