"A recent pop in the energy ETF has created a statistical viable short entry as the XLE has moved near 2 standard deviations in two trading days. Costco holding up well relative to the S&P 500. However, slowing economic growth should see a retest if the 450 level. Finally JPMorgan (JPM) will likely see downbeat earnings, economic warnings, poor returns in investment banking, and the first signs of credit risk to appear on the horizon," says Don Kaufman. Ben Lichtenstein examines XLE, COST, and JPM from a technical analysis perspective.