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XLE breaking down from Ascending Channel - global slowdown?

SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
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AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Chart Patterns Trend Analysis Technical Indicators S&P 500 (SPX500) SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) QQQ sandp500 Ascending Channel XLE Energy Commodities
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chartpattern trendanalysis indicator spx500 spx spy qqq sandp500 ascendingchannel xle energy
XLE just broke down from its ascending channel, which might be signalling that the market is pricing in a global slowdown.

XLE also broke down from an ascending channel in '08 and '14. In the case of 2008, SPX crashed. But in 2014, SPX traded sideways/flat for a while
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