US equities remain choppy, if still leaning on the weaker side. Meanwhile, WTIC is currently +0.7% in the $71s. The energy sector ETF of XLE is currently net lower for the week by -6.7% in the $49.30s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $70.16, but did recover to the low $72s. Set for a second consecutive net weekly decline of around -3.0%. S/t vulnerable. Eventual pric
XLE: energy stocks are set for the fifth consecutive decline of six. I’d note the lower bollinger in the $46s. S/t bearish into next week… absolutely still m/t bullish.
*I hold long the sector via SLB. Looking to add to SLB, and buy back OXY and RIG.
notable stock: SLB
Schlumberger reflective of the sector. I’d note the 200dma in the $25s, and key price threshold of the $23s. Computer PF target $22s.
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Equities: sp’60min
Price action is choppy, but then… its OPEX, and we can expect further chop on increasing volume into the late afternoon. I’m still guessing the market makers would prefer a settlement around the intermediate psy’ number of sp’4350.