US equities remain in minor chop mode. Meanwhile, WTIC is currently -0.1% in the $69s. The energy sector ETF of XLE is currently net higher for the week by +0.6% in the $49.81s.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning the 69/68s. A burst above psy’ $70 is clearly viable before the weekend. A push above the key $77.00 threshold appears very probable by end Sept’, which will offer m/t clarity of giant psy’ $100.
XLE: energy stocks are just seeing some weak leaning chop today. It won’t take much to turn many green before the close, as daily momentum is building.
*I hold long via OXY, SLB, MRO, RIG.
notable stock: OXY
A little choppy cooling. Soft target is the 50dma in the $28s, which could be seen tomorrow. If it is, I’d be inclined to cut my position.
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Equities: sp’60min
New historic high… impressive, as the 4500s are another 5pts closer.