Here's Chris Kimble's chart of XLE, the Energy Select Sector SPDR focused on oil and gas. Chris had sent me an earlier version (which I hadn't got around to publishing) highlighting the two extended areas of consolidation. Chris has gone a step further and suggested a possible a head-and-shoulders pattern.

In light of the Fibonacci retracements across the market (not to mention the SEC charging Goldman Sachs with fraud), some portfolio risk management might be in order.