I continue to stay on the sidelines because, "why?" "Why" would I want to get bogged down in this internecine chopping around? We all know nothing is going to happen until September 20th when we finally get a verdict on interest rates (I don't know how much we can expect before the election, mind you). The energy markets are a perfect reflection of this. They've been caught in consolidation patterns going back to May and June and I'm staying out until we've heard from the Fed.
Oil Services ETF OIH found support at a line from May and August lows and this week I fully expect it to go back to overhead resistance at $29.25.