XLE/SPY Relative ratio long term

XLE/SPY Relative ratio long term, now at 2008 levels, still looks good on short term daily charts
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still active
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active
Catatan
On relative basis Energy can still outperform the SPY, but it seems that most of the "steep" relative outperformance of this year is done and will not be repeated in 2023.
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Continues, energy still outperforming broader SPX
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