1pm update – oil and energy

US equities are broadly lower, with the Nasdaq leading the way down. Meanwhile, WTIC is currently -0.3% in the $45s. The energy sector ETF of XLE is currently net higher for the week by +0.05% in the $40.65s.

USO daily

XLE weekly

Summary

WTIC/USO: oil is leaning weak in the $45/44s, and appears s/t vulnerable with the main equity market into Thursday.

XLE: energy stocks are broadly higher today. The June $45s remain set to be broken above.

notable stock: XOM

Exxon is faring very well to the sector and main market today.

Equities: sp’60min

Market is tired. If we break under yesterday’s low of 3678, that will give some confidence that Thursday won’t be pretty. Orange gap would be natural target.