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A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta., on Feb. 14, 2012. Fracking blasts pressurized water and chemicals into underlying rocks to release trapped natural gas and oil.
A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta., on Feb. 14, 2012. Fracking blasts pressurized water and chemicals into underlying rocks to release trapped natural gas and oil.
(JEFF McINTOSH FOR THE GLOBE AND MAIL)

Time to go shopping for small-cap energy stocks

Market volatility has given us a lot more than usual to talk about in this week’s technical report, as investors might expect. The S&P/TSX Composite Index fell 0.35 per cent over the past five sessions, a low number that understates choppy market conditions. The benchmark’s current Relative Strength Index reading of 56 isn’t telling us much – it’s in the middle of the range between the RSI buy signal of 30 and the sell signal of 70.