During our August 25, 2019 Weekly “Counts” Webinar, I showed that Hurst cycle analysis was suggesting that a rally was imminent in XLE, the large-cap Oil stock ETF, and the rally was expected to continue through mid-September 2019. XLE bottomed on August 27 and rallied over 14% through September 16.
That rally was well underway when the two Saudi Oil installations were bombed by drones on Saturday, September 14. So which method of predicting trend changes was more effective? Technical analysis, or trading the news? The answer is obvious.