Energy

Energy stocks have re-entered the portfolio after a fresh accumulation, creating a tactical constructive stance despite uncertainty over how the trade develops.

Energy names retain higher lows and higher highs, so buyers deserve the benefit of the doubt until that trend breaks.

Energy stocks offer a way to profit from higher energy costs in America, supporting a constructive long-term stance on the sector.

$XLE may offer relative defensive protection if broader equities remain under pressure, particularly as oil prices remain an important market risk.

Energy is broadly struggling as crude prices decline, while previously strong downstream names pull back from short-term support.