Energy stocks continue to lead the market. Pullbacks are getting bought, laggards are catching up, and consolidations are resolving higher.
Transocean Ltd $RIG is currently exhibiting a Squeeze Score of 98.2.
Here's what the chart looks like:
Transocean is coiled tightly within the context of a deep reversal base.
Volatility on the Strazza Indicator is compressed to the lower bound of its 12-month range.
Intermarket evidence suggests this is more likely to resolve higher. Energy continues to lead and has been the source of our best trades this year. Today, our SHEL calls reached a 13x return, with a month still left on the clock.
