Readers know my affinity with the drillers over the production plays but both of these subsectors within the energy space may be seeing a slowdown in the veracity of their downtrends. Over the last one month period it is the worst major S&P sector of 11 falling by 6%. On a YTD basis, it is just below the UNCH mark and will finish most likely somewhere in the middle of the pack, an unusual feat as seen here since 2014 it has been either the best or worst sector. The chart below of the XOP shows how the fund was likely to see some selling given the rapid breakdown above the double bottom pivot of 151.63 on 10/17 (it is a red flag when a breakout crumbles so quickly and this one lasted just 3 sessions before its descent started). The circled consecutive spinning top candles on 10/18-19 were a good sign as well to some possible back and filling. Last Friday recorded a doji candle which was also a bullish harami cross not far from the 200-day SMA indicating good risk/reward here. There has been some recent M&A in the field but premiums were somewhat soft. As always let PRICE be your guide. A stop below 132.50 seems logical on the XOP.