US equities remain in minor chop mode. Meanwhile, WTIC is currently +1.5% in the $42s. The energy sector ETF of XLE is currently net higher for the week by +8.0% in the $36.58s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $42.68. Things turn decisive with any price action >44.00, which would offer a run to psy’50. A cooler dollar would help.
XLE: energy stocks still on track for a third consecutive net weekly gain, as last week saw the m/t bearish trend conclude.
notable stock: XOM
Exxon is a little tired… but still on track to test the 200dma.
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Equities: sp’60min
It remains a simple of case of minor chop mode. We do have some econ-data tomorrow which might be the excuse for more dynamic action.