XLE is the SPDR Select Energy Sector ETF that attempts to track the performance of Energy (oil & gas) stocks. In April of this year, after rebounding from the wipeout in 2015, we thought the price of oil and company stocks had hit a recovery plateau. As such, we theorized that the price of XLE had little reason to rise further and we did not see a catalyst that suggests a new bear market was on the way either.
