It’S Time To Shop For Crushed-Down Strength, Technical Analyst Says

After multiple calls to sell energy, Carter Worth of Cornerstone Macro says that the charts are now flashing a buy sign.
Energy has been struggling this year, sinking 13 percent, but one top technician is making a contrarian call on the beaten-down sector.
“The S&P 500 Energy sector is still the second worst performing sector this year, and up until recently the chart was made up of “a well-defined series of lower highs, lower lows,” Worth said.
Even as it’s gone lower absolute, it’s starting to outperform the market,” Worth said.
Energy has “come a long way, and at some point you do have mean reversion, and I’m going to make that bet,” Worth said Friday on CNBC’s “Options Action.

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