XLE bearish wave analysis

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SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)

AMEX:XLE SPDR Select Sector Fund - Energy Select Sector

XLE has had many black candles in a row and is breaking a very strong support. A Lot of bearish volume too. I am bearish longer term on energies (until about Mid 2016)

Wait for the retest on XLE before going bearish is my plan.

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