Stock Waves Charts Get The Jump On Oil Rally

On Thursday October 5, two days before the vicious attack on Israel and the onset of a Mideast crisis that threatened oil supplies, Stock Waves co-hosts Zac Mannes and Garrett Patten highlighted emerging bullish charts in the energy sector.

They devoted their weekly live video to energy ETFs and stocks, noting that the XLE chart looked set up for "at least a (b) wave bounce." Garrett explained, "We’re going to be looking at a lot of the individual holdings and trying to pick out some that might be more immediately actionable" -- and the very next day, Friday October 6, Stock Waves added 10 new Wave Setups, 8 of them in the energy sector.

As we now know, oil stocks took off, and this past week all 8 of these energy Wave Setups had already reached their initial resistance levels, prompting Zac and Garrett to update their levels.