The Cactus League is Not Just for Baseball

With Major League Baseball's spring training in full swing, including the west coast Cactus League, we ought to think of another Cactus which is rather impressive in the energy patch. 

As one of our Members astutely noted, WHD, the ticker symbol for Cactus Wellhead, the leading manufacturer of pressure control equipment used during drilling, completion and production operations onshore and offshore, is sporting a rather impressive chart. 

On the WHD daily chart, below, note the sharp recovery from some earnings volatility last week as the stock is now threatening an imminent breakout above $38. 

Energy stocks, as a group, have been fickle and rather slippery with momentum for a while now, rendering them tough to swing trade with any sort of conviction, long or short. 

But with crude oil flexing again today, Cactus may be in a league of its own as it is one of the better charts in the entire space. 

As for the broad market, some trade war China headlines are seeing stocks off session highs but still green. Some near-term backing and filling again probably is in order. But the overall strength in tech and medical tech is still impressive, with energy a wildcard to wake up.