Chart of the Day - Wednesday, September 24, 2025
September 24, 2025
- Energy ($XLE) was the strongest sector for the second straight day while the broader market fell. It reached its highest since April on an intraday basis today, but closed slightly shy of a new high.
- Bespoke shows that $XLE is testing a combo of resistance around $90, aligning with horizontal resistance and a one-year downtrend line. It's resolving higher from a three-month base.
- A Golden Cross formed last week as the 50-DMA crossed above the 200-DMA for the first time since March. While many dismiss this signal due to its silly name and sensational use in the media, it's empirical evidence of a strengthening trend.
The Takeaway: The Energy Sector ($XLE) is testing a confluence of resistance at $90, as the trend begins to improve.
