ERY Follow Up

One of the ways I confirm a signal is by looking at the underlying ETF or asset, the different versions of leverage if available and the inverse of the asset, in this case the inverse asset of ERY (3x short Energy) is ERX (3x long Energy).

I didn't write on any of these charts because I didn't think you'd ned it, except the last one as it is a very important timeframe and the divergence is important.

 Remember, a negative signal in ERX is a positive in ERY which is the long position I like. The 2 min chart.

 3 min.

 5 min.


 10 min.

 30 min

4 hour.

I could add the XLE charts, which would look the same or worse and the ERY charts which look as good, but they are positive.

This is just another tool for those using 3C, Compare!