One sector I’ve been persistently bearish about has been energy. This finally starting kicking in nicely a week ago, as crude oil broke its uptrend.
![USO Yearly Chart USO Yearly Chart](https://d1-invdn-com.akamaized.net/content/picb648c1488f488a442b31c0ddcaa71745.jpeg)
More specifically, my XLE (NYSE:XLE) put options are doing well. The next step, is as failure of the trendline shown below.
![XLE Yearly Chart XLE Yearly Chart](https://d1-invdn-com.akamaized.net/content/pic213d35a6209fe6085050b2a2e9cac7e0.jpeg)
There are an abundance of individual energy stocks that have massive topping patterns. One of my favorites, Patterson-UTI Energy Inc (NASDAQ:PTEN), has been slipping under its horizontal resistance steadily.
![PTEN Yearly Chart PTEN Yearly Chart](https://d1-invdn-com.akamaized.net/content/pic3663db5793c8e2af9f584c4734b5aa6c.jpeg)