Markets & Mayhem and others point to sustained energy outperformance and suggest institutions are rotating into an underallocated sector as oil stays elevated, with Goldman Sachs charts cited as confirmation.
Wow. We've just seen 14-weeks straight of consecutive gains for the energy index!
It strongly suggests that there's growing institutional interest for one of the most underallocated parts of the market.
The one thing no one (at least on my feed) is talking about...$XLE,which started to turn bullish 9 months ago (see below) and shows no sign of topping yet.....even as oil prices go sideways
Far and away the most underweight sector
Energy positioning is lagging what you'd expect considering how far oil prices have already moved up
This finding is one of many signals tracked across Stock Market. The live feed updates every few hours with new expert voices, debates, and emerging ideas.
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