US equities are moderately weak. Meanwhile, WTIC is currently -0.3% in the $72s. The energy sector ETF of XLE is currently net lower for the week by -4.6% in the $50.44s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $71.50, but did catch a sig’ bounce… largely technical. S/t vulnerable 70/69 zone. Eventual price action >$77.00 will be decisive and offer psy’ $100.
XLE: energy stocks seeing considerable chop… clearly set for sig’ net weekly declines. S/t bearish… m/t bullish.
*I hold long the sector via SLB.
Looking to add to SLB, and buy back OXY and RIG.
notable stock: OXY
Occidental seeing considerable chop. The $25s look realistic next week.
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Equities: sp’60min
Price action remains very choppy. The afternoon should offer another wave lower, and Friday threatens a gap lower… before broad chop for OPEX.