XLE/Energy/ERX

Since the long in ERX for a quick (maybe swing) trade, here's what energy looks like on the open this morning after taking out some stops.

 XLE hitting stops this a.m. from intraday support yesterday.

 XLE 1 min positive on the open today.

 Even 5 min positive as XLE turns up after hitting stops.

 The 15 min chart, still very much negative and the reason I warned a long ERX/Energy position should be undertaken only if you have the time to watch the market and are nimble enough to move quickly.

ERX

 Mostly the same stop breaking action this morning.

 positive on the short term charts like  2 min above

 as well as 5 min

Again, at 15 min there's the cap on the divergence suggesting a bounce, but not a large leg up.