Unlike houses ,an oil company can be sold off bit by bit, expenses can be reduced, they can merge or be bought out , etc. So I doubt if oil company debt is as bad as mortgage debt. I presume that those lending to oil companies at least avoided the real estate “liar loans.” But maybe not, artificially low interest rates encourage reckless risk taking by borrowers. In this case either higher rates when they need to rollover our lower oil prices are both bad news.
Re IBD “follow through” my indicators haven’t budged. Except perhaps for ultra short term and ignore those.