XLE SHORT $50 chart

gap at $50 and gap at $42 are the first things to notice.
However, there is support going down so it's not like we should expect those prices quickly, but it's good to take note as trends start to break.

support (blue lines) heading down priced.
I do think we hit a top right around $78-$76, and will return to around $72-$74 after it drops a bit before seeing another sell off. I'd start looking for entry on the confirmation.

I could see this settling around $50 (see green trends.